I Don't Believe the Trump Tax Hike Rumors | The New York Sun

Arguments Against a Trump Tax Hike

The author strongly refutes claims of a potential Trump tax hike, emphasizing President Trump's past promises to extend the 2017 tax cuts. These cuts included a 37 percent top tax bracket, reductions for lower brackets, and increased deductions.

Economic and Political Concerns

The article highlights several concerns regarding a tax hike. It argues that such a move would contradict the existing policy baseline agreed upon by Trump, House, and Senate Republicans. Further, it notes that numerous Republican representatives have signed pledges against tax increases.

The author also emphasizes the negative impact on small business owners, a key demographic for Trump, who might be disproportionately affected by higher taxes.

Alternative Funding Sources

Instead of tax increases, the author proposes alternative funding sources. These include exploring other revenue streams such as tariff revenues or even unconventional ideas like tapping into Elon Musk's cryptocurrency holdings. This is presented as a more economically sound and politically astute alternative to raise funds.

Trump's Economic Philosophy

• The article underscores President Trump's consistent support for small businesses and his belief in rewarding success, not penalizing it.
• The author cites Trump's familiarity with the Laffer curve as further evidence of his unlikely embrace of a tax hike.
• The proposed additional tax incentives for onshoring are mentioned as actions which contradict the notion of tax increases.

In conclusion, the article presents a persuasive case against the likelihood of a Trump tax hike, based on economic principles, political realities, and Trump's known policy preferences.