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Trump Reportedly Seeks to Raise Taxes on Wealthy Americans to 39.6%
U.S. President Donald Trump is pushing ahead a tax rate hike for certain wealthy Americans to support other tax cuts in his economic plan, Bloomberg reported.The proposed legislati...
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Trump Reportedly Seeks to Raise Taxes on Wealthy Americans to 39.6%
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U.S. President Donald Trump is pushing ahead a tax rate hike for certain wealthy Americans to support other tax cuts in his economic plan, Bloomberg reported.

The proposed legislation calls for a new 39.6% tax bracket for individuals earning at least USD2.5 million annually or couples earning USD5 million, higher than the current top individual tax rate of 37%.

Related NewsRetail Sales MoM for Apr in United States is 0.1%, lower than the previous value of 1.7%. The forecast was 0%.
Additionally, Trump aims to eliminate capital gains tax benefits for venture capital and private equity fund managers.

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