Finalize the trade agreement within three to four weeks, impose higher tax rates on millionaires,
How many more unreliable ideas does Trump have?
Earlier this month, Trump announced a significant increase in tariffs on around 60 economies, which instantly caused a stir in the international economic field. He then quickly decided to suspend these tariff measures for three months. Trump stated that this was to give trade partners enough time to negotiate and reach an agreement, and during the negotiation period, he would maintain the basic tax rate at 10%.
At the same time, he emphasized that the claims made by people such as Bessent about persuading him to delay tariffs were entirely based on his consideration of the overall situation; he was not worried about the turmoil in the bond and stock markets caused by his increase in tariffs. Although it may bring some volatility in the short term, this is also a necessary process to achieve economic goals.
Additionally, his proposal to impose higher tax rates on millionaires gives the impression that Trump has recently been at odds with various taxes. I know you are in urgent need of money, but please don’t rush. There has been heated discussion within the Republican Party regarding this matter. They proposed establishing a new 40% tax bracket for individuals with annual incomes exceeding one million dollars, hoping to increase fiscal revenue to balance the costs needed for implementing the legislation. At the same time, this measure can serve as a “shield” to respond to external criticisms, as this legislation has often been criticized for benefiting corporations and the wealthy.
However, in the past week, Trump’s attitude towards this “millionaire tax” has been fluctuating, and he is also concerned that it may prompt high-income individuals in the United States to choose to immigrate to other countries in search of a more favorable tax environment. So, indeed, there are too many unreliable ideas.
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