On Fox Business Network’s “Mornings with Maria” aired Thursday, Rep. Dan Meuser (R-PA) said he proposed a tax cut and a higher premium income bracket than before the Employment Act, but higher than it is now.
Host Cheryl Cathone said, “President Trump is currently considering raising the corporate tax rate to pay all hopeful tax cuts and creating a 40% tax for billionaires. This includes tips, overtime and taxes on social security. Where are they now? Find – or you start talking about raising taxes on billionaires. Those sound like the point of a democratic story.”
Meuser replied, “Well, it sounds like the point of all American stories, and I’m not going to play the word game here, and I actually proposed it a few months ago.[s] And employment under President Trump has brought it to 37 at income levels alone above $750,000. So, you have that by bringing it to 38.6, like you’re starting the tax system from 37, right? Is it 1% less than before? Incidentally, if Democrats vote against this, they are all asking for higher tax rates for low-income, middle-income, high-income, businesses and businesses. So we’re fighting for small businesses, for the whole of America, for the creators of jobs that may be in those categories. So, if you raise it one point and it will bring in $15 billion in revenue, right? It is not elastic. So if it reaches 39, it’s almost $25 billion. The president is determined to have no Republican standards. And this is my view, and from what I was based on him, I have not put words in his mouth. What he wants to see is what’s in the profits of America, medium-income America, small businesses, and by the way, we’re talking about pass-through small businesses exemptions, so they won’t pay at a higher rate at their income rate, as they do now. ”
He added that revenues rose after the tax cuts passed.
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