Politics
How the tax rates of the best

US President Donald Trump points out as he attended the annual Lunch Friends of Ireland organized by the US President of the House of Representatives, Mike Johnson (R-La) at the American Capitol in Washington, DC, United States, March 12, 2025.
Evelyn Hockstein | Reuters
While the Republicans compete to finance their spending and their massive taxes, President Donald Trump envisages a possible increase in taxes for the highest wages.
The idea, which lacks republican support, could return the highest federal tax rate to the 2017 levels for some of the richest Americans.
During a telephone call on Thursday, NBC reported, Trump pressed the president of the Mike Johnson room, R-La., To increase the highest tax rate on the richest Americans and fill the so-called interest escape.
More according to personal finances: how many consumers are preparing for an economic hit, Americans think that real estate, gold is the best long -term investment rates launched by the “increase” in bond interest, says advisor. What to know
On Friday, Trump expressed its opening up of taxes on the richest Americans in Atruth's social post, noting that he “would freely accept” the increase in tax to “help workers with lower and intermediate income”.
“The Republicans should probably not do it, but I am fine if they do it !!!” He wrote.
Adorned by Trump, the law on tax reductions and jobs, or TCJA, of 2017, created tax alternatives for individuals and businesses. Most will be sunset after 2025 without extension of the congress.
TCJA temporarily lowered the highest tax rate from 39.6% to 37%. For 2025, the rate of 37% comes in place for unique declarants once taxable income exceeds $ 626,350.
How Trump's idea compares to historic rates
If it is reported, an income tax rate of 39.6% would make taxpayers rich at the pre-TCJA levels from 2013 to 2017. Before that, the highest rate was 35% during most of the early 2000s, according to data collected by the Fax Policy Center. The highest rate was 94% from 1944 to 1945.
However, this data does not reflect the amount of income subject to higher rates or to the value of standard and detailed deductions during these periods, noted the organization.
Trump's tax package faces a “mathematics problem”
With the control of the congress, the Republicans can adopt legislation through a process known as “reconciliation”, which can bypass the Senate flibustier with a simple majority.
However, there is still a disagreement on what should be included in the bill of several thieves and how to finance it.
The legislators are faced with “a fairly simple mathematics problem”, with many proposals that do not cover the cost, the president and law professor of Yale Lab, Natasha Sarin of CNBC said on Friday.
“We are not getting closer to the type of increase in income we need,” she said.
Sources 2/ https://www.cnbc.com/2025/05/09/trump-top-tax-rate-hike-wealthy-americans.html The mention sources can contact us to remove/changing this article |
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