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President Donald Trump says he’d be fine raising taxes on rich people like him, but he’s still warning his party not to do it.
In a Truth Social post on Friday morning, Trump said that Republicans “should probably not” increase taxes on the wealthy, but said he’s “OK if they do!!!”
Trump’s missive came one day after multiple outlets reported that he had urged House Speaker Mike Johnson to create a new tax bracket for those making more than $2.5 million per year, raising the rate they pay from 37% to 39.6%.
Republicans on Capitol Hill are currently working on a sweeping bill that will include changes to the tax code and cuts to government spending.
Trump suggested that Democrats would try to make Republicans pay politically for a tax hike on the rich, despite the fact that Democrats have generally long supported increasing taxes on the wealthy.
The president referenced President George H.W. Bush’s 1988 pledge not to raise taxes, which he ultimately broke during a budget negotiation with Congress in 1990.
“The Radical Left Democrat Lunatics would go around screaming, ‘Read my lips,’ the fabled Quote by George Bush the Elder that is said to have cost him the Election,” Trump said, adding: “NO, Ross Perot cost him the Election!”
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