Trump is proposing to raise taxes on the high-income earners

US President Donald Trump is planning to introduce a new tax policy for high-income earners in the country. Bloomberg reported this, citing reliable sources.

New rate for those with incomes over $2.5 million

According to reports, Trump discussed the issue with House Speaker Mike Johnson. According to the president's proposal:

• For individuals with gross annual incomes exceeding $2.5 million;
  
• For married couples with incomes exceeding $5 million, the new tax rate is expected to be set at 39.6 percent.
  

Currently, the highest income tax rate in the US is 37 percent, which means the new proposal is intended to further increase the tax burden.

Benefits for investment and venture capital companies will be eliminated

The Trump administration also intends to eliminate existing tax breaks for managers of private equity funds and venture capital businesses.

These measures are intended to strengthen the state budget and attract an additional $ 67.3 billion over almost 10 years.

Bloomberg sources note that this policy will help compensate for the losses incurred by the Trump administration's elimination of the tax on overtime pay.

The idea of ​​​​abolishing import tariffs and income taxes

Earlier, Trump proposed increasing tariffs on importers, saying that this could lead to the possibility of completely eliminating the US income tax system.

“Perhaps, if all the plans are implemented, we will not need an income tax system at all,” the US president said.

The editors of Zamin.uz evaluate this initiative of Trump as one of the important turning points in the US financial policy. The application of a fair tax policy to the high-income group can be an important step in terms of both fiscal stability and social equality. Read 'Zamin' on Telegram!