Trump Warns Against ’Millionaire Tax’

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2025-04-24 00:55:01

Former President Donald Trump cautioned that a proposed 40% top income tax rate could trigger an exodus of wealthy Americans. The remarks came as Republican lawmakers weigh the levy—targeting annual earnings above $1 million—to finance an economic package. House Speaker Mike Johnson, however, showed little enthusiasm for the measure. The debate reflects Republican efforts to deflect Democratic accusations that the party prioritizes the affluent over working-class families. "When you punish success, you get less of it," Trump said, framing the proposal as a threat to economic mobility. The discussion underscores broader tensions over fiscal policy as both parties jockey for positioning ahead of the election cycle.

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