Simple Smart Seminar
  • Stock
  • Investing
  • Politics
  • Tech News
  • Editor’s Pick
Politics

Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

by May 9, 2025
May 9, 2025 0 comment

Former Vice President Mike Pence has a message for his old boss.

Pence is urging President Donald Trump, under whom he served as vice president in Trump’s first administration, not to raise the tax rate on wealthy Americans.

Trump’s 2017 Tax Cuts and Jobs Act, the signature domestic achievement of his first White House term, is scheduled to expire this year if it’s not extended by Congress.

The Trump White House and some congressional Republicans for weeks have mulled letting the tax reductions on the wealthy sunset as a way to pay for the rest of the tax cuts as well as Trump’s other pricey second-term priorities. 

 

And the president, during a Wednesday phone call, pushed House Speaker Mike Johnson to raise taxes on the highest income earners and close the carried interest loophole in the reconciliation process, Fox News Digital confirmed. The development was first reported Thursday by Punchbowl News.

A source familiar with Trump’s thinking said Trump is considering allowing the rate on individuals making $2.5 million or more to increase by 2.6%, from 37% to 39.6%.

But Pence, a fiscal conservative and budget hawk during his long political career in the House of Representatives, as Indiana governor and as vice president, strongly cautioned against upping the rates on the highest earners.

‘Any suggestion that I’ve heard among some in and around the administration that we raise the top margin rate, the so-called millionaires tax, would be an enormous tax increase on small business owners across America,’ Pence said. ‘It needs to be opposed.’

And the former vice president, in an interview with Fox News Digital this week, argued that ‘the majority of people that file taxes of a million dollars are simply individuals that own businesses, and they file their taxes as an individual, but then plow that money back into their company. If you raise that top margin, it would be an enormous tax increase on small business America.’

‘Let’s make all the Trump-Pence tax cuts permanent. That’s a way to really lay a foundation to grow the economy in the days ahead,’ Pence urged.

Pence, who was interviewed in Boston after receiving the John F. Kennedy Profiles in Courage award, gave ‘President Trump all the credit in the world for an historic victory last November, and for sparing the country one more liberal Democrat administration.’

He also praised Trump ‘not only for his victory, but for securing our southern border, for restoring morale and recruitment in our military, for taking the fight to the Houthis.’

But he argued that ‘I truly do believe that some of the other steps the president is taking away from that conservative agenda should be a concern that would work against his legacy and ultimately the success of our party or our country. And so we’re going to continue to be a voice against them.

‘I really do believe that for prosperity … for the success of our country, we need to stick to those time-honored principles of strong defense, American leadership on the world stage, less government, less taxes, traditional moral values and the right to life, and I’m going to be a voice for that,’ Pence added.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail
previous post
GOP talk on millionaire tax hike ‘makes no sense,’ Trump White House alum says
next post
Department of Justice opens criminal investigation into NY AG Letitia James

You may also like

Trump warns Rand Paul he’s playing into ‘hands...

June 1, 2025

White House urges Iran to accept nuclear deal...

June 1, 2025

Israel hostage deal in doubt as Hamas adds...

May 31, 2025

Iran condemns Austria over report on advanced nuclear...

May 31, 2025

ROBERT MAGINNIS: 9 signs Beijing’s Taiwan invasion may...

May 31, 2025

Hamas agrees to release 10 more hostages

May 31, 2025

Michelle Obama facing backlash over claim about women’s...

May 31, 2025

Hunter Biden seen driving Toyota rental in South...

May 31, 2025

Trump tariff plan faces uncertain future as court...

May 31, 2025

Who will be Elon’s successor? The top names...

May 30, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 simplesmartseminar.com | All Rights Reserved

    Simple Smart Seminar
    • Stock
    • Investing
    • Politics
    • Tech News
    • Editor’s Pick