Trump defends idea of raising taxes on wealthiest Americans: 'It's good politics'

As Republicans hunt for avenues to widen President Donald Trump's 2017 taxation cuts, immoderate Republican lawmakers progressive successful the process person floated the thought that the nation's highest earners could spot a taxation summation successful bid to usher successful cuts for lower-earners. 

For his part, the president is sending signals helium tends to agree.

"You know, they'll spell astir saying, ‘Oh, this is truthful terrible.’ What you're doing is you're giving up thing up apical successful bid to marque radical successful the mediate income and the little income brackets prevention more. So it's truly a redistribution," Trump told reporters erstwhile asked what his effect would beryllium to those Republicans opposed to tax increases connected the wealthy.

"I would emotion to beryllium capable to springiness radical successful a little bracket a large interruption by giving up immoderate of what I have," the president added.

TRUMP'S TAX HIKE PROPOSAL IS 'DÉJÀ VU' OF GEORGE H.W. BUSH'S ‘READ MY LIPS’ MOMENT, EXPERTS SAY

President Donald Trump speaks with reporters arsenic helium signs an enforcement bid successful the Oval Office of the White House, Friday, May 9, 2025, successful Washington.  (AP Photo/Alex Brandon)

He besides noted that the determination is conscionable "good politics," dismissing comparisons immoderate governmental experts person made to one-term Republican President George H.W. Bush, whose breached committedness to Republicans that determination would beryllium "no caller taxes" pursuing his 1988 predetermination triumph has been blamed Bush's failed re-election efforts. 

"Read my lips: No caller taxes," Bush Sr. said during his acceptance code astatine the 1988 Republican National Convention. Subsequently, successful the look of a ballooning deficit, Bush Sr. yet chopped a woody with Democrats that raised taxes.

"A batch of radical say, don't bash it due to the fact that of the information that you person the Bush connection astir ‘Read my lips.’ But helium mislaid due to the fact that of Ross Perot, helium didn't suffer due to the fact that of that statement," Trump said. "I really deliberation it's bully authorities to bash it wherever richer radical springiness up. And it's a precise tiny – it's similar a constituent – but they springiness it up to payment the radical connected little income."

TRUMP PUSHES TAX HIKES FOR WEALTHY AS ‘BIG, BEAUTIFUL BILL’ DEADLINE LOOMS

In a station connected his Truth Social level earlier Friday, Trump struck a somewhat much cautious code astir the alleged interest that his willingness to summation taxes connected the highest earners could spell occupation for him electorally the mode it did for Bush Sr. 

He complained that Democrats would constituent to it repeatedly successful an effort to discredit him. However, Trump inactive contended that the elder President Bush mislaid due to the fact that of much than conscionable his breached taxation promises, and added that portion Republicans should astir apt not summation taxes connected the wealthy, helium would beryllium good with it if they were to bash so.

Political experts compared President George H.W. Bush to President Donald Trump aft Trump signaled his enactment for a tiny taxation hike for those astatine the top.  (Pool/Getty Images)

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"The occupation with adjacent a ‘TINY’ taxation summation for the RICH, which I and each others would graciously judge successful bid to assistance the little and mediate income workers, is that the Radical Left Democrat Lunatics would spell astir screaming, ‘Read my lips,' the fabled Quote by George Bush the Elder that is said to person outgo him the Election," Trump wrote Friday connected Truth Social. 

"NO, Ross Perot outgo him the Election! In immoderate event, Republicans should astir apt not bash it, but I'm OK if they do!!"