Billionaire picks NJ governor Christie to head transition team
Billionaire picks NJ governor Christie to head transition team
Republican presidential candidate Donald Trump on Monday backtracked on his remarks about raising taxes on wealthy Americans, saying the rich might simply get a smaller tax cut than he originally proposed.
On Sunday, Mr Trump had said taxes on the wealthy would “go up a little bit” once his broad tax policy proposals, which include tax cuts for rich Americans, were negotiated with Congress — an apparent break with traditional Republican support for lower taxes in all income brackets.
But on Monday, Mr Trump denied that he meant to imply he was willing to raise taxes for people in higher income brackets from their current level, saying he had been referring to potential adjustments to his own tax policy proposal. “I may have to increase it on the wealthy — I’m not going to allow it to be increased on the middle class,” Mr Trump said on CNN. “Now, if I increase it on the wealthy, that means they’re still going to be paying less than they are paying now. I’m talking about increasing it from my tax proposal.” The proposal, released in September, included broad tax breaks for businesses and households, with the
highest income tax rate reduced to 25 per cent from the current 39.6 percent rate. Mr Trump, a billionaire real estate developer, said on Monday that lowering taxes on the middle class and businesses was his priority.
“I’m not talking about a tax increase. I’m talking about a tremendous tax decrease, OK ” Mr Trump said on the Fox Business Network, saying proposals always change in negotiations with Congress but that he was committed to cutting taxes. “I may have to increase it on the wealthy — I’m not going to allow it to be increased on the middle class,” Mr Trump said on CNN. “Now, if I increase it on the wealthy that means they’re still going to be paying less than they are paying now. I’m talking about increasing it from my tax proposal.”
In Monday’s interviews, Mr Trump also sought to clarify comments he made last week on US debt. He said never espoused restructuring or defaulting on government debt but would buy back bonds at a discount if interest rates go up.
Mr Trump on Monday also accused former contenders Jeb Bush and Lindsay Graham of breaking their own “binding pledge” of supporting the party candidate by not backing him in the White House race.
Meanwhile, former US vice-presidential candidate Sarah Palin vowed on Sunday to help unseat Paul Ryan, the top Republican in the House of Representatives, because of the his refusal to endorse Mr Trump.
