The Trump administration is said to raise taxes for the wealthy in America: a financing strategy for other priorities? Ark Innovation Etf (Bats: Arkk)

The Trump administration is said to be a tax increase for the richest Americans. This step is seen as a strategic approach to financing other policy priorities.

What happenedWhite House officials are talking about the potential to raise the income tax rate for the highest papers, as mentioned before Intuition. This can be a comparison of tax discounts on advice, create space for other priorities and face criticism from Democrats looking to extend the president Donald TrumpTax discounts for 2017.

“If we renew the tax discounts of the wealthy paid by throwing people from Medicaid, we will get the F -King slaughter,” the White House official told Axios.

Currently, the higher income tax rate is 37 %, with more than $ 609351 to individuals and $ 731,201 pairs. If the tax law has expired for 2017, the rate will exceed 39.6 %, with a low income threshold up.

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While only about 1 % of taxpayers fall into the upper chip, they contribute to a large part of income taxes. The proposed changes may increase revenues, which may help to provide some Trump’s popular promises, such as removing taxes on advice.

Why do it matterThese discussions are preliminary and no decisions have been taken. Despite the potential opposition of Republicans who argue that low taxes stimulate economic growth, opinion polls indicate that most Americans, including a large number of Republicans, support increasing taxes on wealthy individuals.

Participant founder of Microsoft Bill Gates The audio defender to increase the imposition of taxes on the wealthy people was the pretext that it is an ethical duty for individuals, countries and companies with large resources to contribute more. Abeel DisneySlime of the Disney family dynasty; A famous actor Brian Cox; Rockefeller family Valery RockefellerAnd as well as the Senator Bernie Sanders (I-VT), all participation in the same views as gates.

If the increased taxes in the Trump administration enters into force, this may be a major shift in American tax policy, which achieves some popular promises of Trump and address the increasing concerns about income inequality.

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Slip: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.