“President Trump tossed cold water on the idea of raising tax rates on the highest-income Americans, ending for now a Republican flirtation with higher taxes at the top to help pay for his broader agenda,” the Wall Street Journal reports.
“He called a potential millionaire’s tax ‘very disruptive’ on Wednesday, a day after former House Speaker Newt Gingrich circulated a message from Trump saying the president loves the idea of a small tax increase on the rich but was counseling Republicans against it for political reasons.”
“Trump’s comments in the Oval Office capped weeks of chatter in GOP circles about letting the 37% marginal income-tax rate climb back to 39.6% or rise to 40% on incomes over $1 million as part of the tax-and-spending bill Congress is considering.”
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