Trump calls raising taxes on wealthy Americans a "major disaster"

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U.S. President Donald Trump has sharply criticized the idea of raising tax rates for the wealthiest segments of the population. According to him, if such a decision is made, affluent Americans will start leaving the country, causing serious harm to the economy.

"In my opinion, such a decision would be very dangerous economically. If taxes go up, millionaires will start abandoning the country. Other countries that have already experienced this have lost many of their citizens. Mostly, those were people who paid significant taxes into the budget," Trump stated.

It should be noted that in recent weeks, discussions about raising tax rates specifically for wealthy individuals have intensified among Republican Party representatives in the U.S. Particularly, there's consideration of increasing the current 37% tax rate to 40% for individuals whose annual income exceeds 1 million dollars.

According to media reports, such a proposal is unusual for Republicans, who typically oppose tax increases. However, the need to generate additional budget revenue and a shift of the party’s electoral base toward the working class are cited as reasons behind this idea. According to some estimates, raising the tax rate for the wealthy to 40% could bring an additional $400 billion to the national budget over the next decade.

Recall that previously, on April 2, Donald Trump introduced new trade tariffs affecting 180 countries worldwide, which came into force on April 9. As a result of these tariffs, the world's ten richest people lost more than $170 billion of their wealth. Trump himself was among those affected—his personal fortune decreased by $500 million. However, the biggest losses were experienced by the president’s main advisor and supporter—billionaire Elon Musk.

Currently, the issue of tax hikes is actively debated in political circles in the U.S. Meanwhile, Trump continues to warn about the serious economic consequences of such a decision. Read 'Zamin' on Telegram!