Monday 9 May 2016

Trump changes tune on taxing the wealthy


US Republican presidential candidate Donald Trump says he's open to raising taxes on the rich, backing off his prior proposal to reduce taxes on all Americans and breaking with one of his party's core policies dating back to the 1990s.
"I am willing to pay more, and you know what, the wealthy are willing to pay more," Trump told ABC's This Week.
The billionaire real estate tycoon has said he would like to see an increase in the minimum wage, although he told NBC's Meet the Press on Sunday he would prefer to see states take the lead on that front instead of the federal government.
"I don't know how people make it on $US7.25 an hour," Trump said of the current federal minimum wage. "I would like to see an increase of some magnitude. But I'd rather leave it to the states. Let the states decide."
Trump's call for higher taxes on the wealthy is a break with Republican presidential nominees who have staunchly opposed tax hikes for almost three decades.
Democrats, including presidential front-runner Hillary Clinton, have pressed for increased taxes on the wealthiest Americans for years.
Trump released a tax proposal last September that included broad tax breaks for businesses and households. He proposed reducing the highest income tax rate to 25 per cent from the current 39.6 per cent rate.
Pressed on the contradiction between his latest comments on taxes and the September tax plan, Trump said he viewed his original proposal as "a concept" and that he expected it would be changed following negotiations with congress.
"By the time it gets negotiated, it's going to be a different plan," Trump told ABC. He emphasised in separate interviews with ABC and NBC that his priorities were lowering taxes on the middle class and businesses.
"The middle class has to be protected," Trump told NBC. The rich are "probably going to end up paying more", he said.
The Clinton campaign said Trump was trying to pander to voters beyond those who supported him in the Republican nominating contests and that he had no intention of raising the taxes of wealthy people.
"Don't believe Donald Trump's weak attempts at a general election 'makeover' for even a second," Christina Reynolds, a Clinton campaign spokeswoman, said in a statement.
"Trump's economic plans take direct aim at working Americans - his proposal to cut trillions in taxes for the top one per cent would almost certainly come at the expense of working- and middle-class families."
Republicans remain deeply divided over Trump's candidacy, although he has pledged to try to unite the party ahead of its convention in July.
Prominent party leaders such as Paul Ryan, the top elected US Republican, have distanced themselves from Trump.
Ryan, who will preside over the July 18-21 convention in Cleveland where the party will formally nominate its presidential candidate, said last week he hoped to eventually support Trump. But he added: "I'm just not there right now."
Underscoring the party's divisions, Sarah Palin, the 2008 Republican vice presidential candidate and a Trump supporter, criticised Ryan for failing to endorse Trump.
The conservative populist firebrand said she would work to defeat Ryan in his August 9 primary race against a conservative businessman.
Clinton said she hoped to take advantage of Republican reticence over Trump to draw the support of party defectors.
"I am asking people to come join this campaign," the former secretary of state told CBS. "And I've had a lot of outreach from Republicans in the last days who say that they are interested in talking about that."

No comments:

Post a Comment