The administration of US President Donald Trump intends to increase taxes for high-income Americans. According to Axios, citing official sources, these measures are being developed to compensate for financial losses.
According to information, the Trump administration is studying the possibility of abolishing some tax deductions that are currently in force. In particular, the issue of revising the tax system by eliminating the triple tax is being discussed.
During the presidential election, Trump repeatedly spoke about the abolition of the triple tax and confirmed this intention after the inauguration. For some states, this tax is the main source of income for the entertainment industry.
Studies show that only 2.6 percent of Americans belong to the upper income bracket that could benefit from this tax increase. Public opinion also supports such measures.
However, the Republican Party and most of its members oppose this initiative. According to them, this policy could lead to the loss of major financial sponsors of the party. Therefore, a final decision on this proposal has not yet been made.
This tax policy of the Trump administration can cause sharp debates between Republicans and Democrats. In addition, it is possible that these changes will have a significant impact on the US economy and the actions of big business owners.
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