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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsScoop: Bannon pushes tax hike for wealthy
Jonathan Swan 17 hrs ago
Steve Bannon is causing a stir inside the administration by pushing an idea that's anathema to most Republicans: raising taxes on the wealthiest Americans to pay for steep middle and working-class tax cuts. (Some officials who've heard Bannon's idea think it's crazy, but the President's chief strategist believes it's a potent populist idea.)
Bannon has told colleagues he wants the top income tax bracket to "have a 4 in front of it." (The top bracket is currently 39.6% for Americans who earn more than $418,400.)
It's classic Bannon pushing a maximalist position that's reviled by the Republican establishment.
While all the public attention has been going to health care, Trump aides are teeing up an extremely aggressive tax plan.
Lobbyists who have met with Gary Cohn and Treasury Secretary Steven Mnuchin say they've been struck by how impatient the two appear:
Cohn has told associates that if tax reform doesn't get done this year, it's probably never going to happen.
Sources who know Cohn speculate that he'll leave the White House the instant he concludes tax reform is dead.
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https://www.axios.com/scoop-bannon-pushes-tax-hike-for-wealthy-2452197801.html
Lint Head
(15,064 posts)It's just one more manipulative tactic to convince the deplorables that Trump is on their side and won't take their health care away and raise their taxes. It's bull shit.
SweetieD
(1,660 posts)alcibiades_mystery
(36,437 posts)Everyone knows damn well that not a single GOP Congressperson can or will vote for a tax increase on the top bracket. This is typical Bannon smoke and mirrors.