Why Trump’s Flip-Flop on Taxes Matters
Raise taxes on the 1%? Really?
Why Trump’s flip-flop on taxes is astonishing — and so important
Donald Trump’s recent declaration that taxes for the wealthy should increase is an amazing turn of events in this presidential campaign and for the Republican Party. For starters, it’s a jaw-dropping flip-flop on policy. During the primary season, Trump unveiled a tax plan that, according to the non-partisan Tax Policy Center, would give the top 0.1% of income earners like himself an average tax cut of more than $1.3 million (versus $2,700 for those in the middle class).
In his interview on “Meet the Press” yesterday, Trump said his earlier tax plan was all about a starting point in a negotiation. “I’m not under the illusion that that’s going to pass. They’re going to come to me. They’re going to want to raise it for the rich. Frankly, they’re going to want to raise it for the rich more than anybody else,” he said. “But the middle class has to be protected. The rich is probably going to end up paying more. And business might have to pay a little bit more. But we’re giving a massive business tax cut.”