Report: Bannon Wants To Raise Taxes On The Wealthy
White House chief strategist Steve Bannon is pushing to raise income taxes on the wealthy, Axios reported on Sunday.
According to Axios’ Jonathan Swan, Bannon has told fellow White House aides that he wants the top income bracket, currently at 39.6 percent for Americans earning more than $418,400, to “have a 4 in front of it.”
Bannon is reportedly pushing the tax hike on the nation’s top earners as a way to offset tax cuts on middle- and working-class Americans.
One obstacle standing in the way of Bannon’s idea: his fellow White House aides, who reportedly aren’t too keen on the idea.
During his presidential campaign, Trump did say that he was open to raising taxes on the wealthy. “I am willing to pay more, and you know what, the wealthy are willing to pay more,” he said in May 2016.
Bannon’s influence over President Trump has been relatively scaled back since he lost an internal power struggle a few months back to White House adviser Jared Kushner, who is also Trump’s son-in-law.
The negative press stemming from the FBI’s focus on Kushner as part of the Russia probe, however, may have opened the door for Bannon to gain back some of his previous influence.
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