The US tax increase for millionaires will lead to the fact that they will move to other states. This was warned by the White House head Donald Trump. He was quoted by publications Bloomberg.
According to him, such countries have used their measures that have lost their wealthy citizens, which turns into a bad result, because the tax pays wealthy. In other words, as the president explained, such a policy is sabotage.
The reason for these comments is the discussions between the Republicans dedicated to increasing tax rates from 37 to 40 percent for Americans to earn from one million dollars. Some single Trump people believe that such steps will be helpful to confront the Democratic Party in intermediary elections. Republican critics blamed him because of the fact that they paid taxes to the rich at the cost of the poor American residents. However, the establishment of the Republican Party did not accept the idea of increasing taxes. As the Chairman of the House of Representatives Mike Johnson stated, the Muslim elephants will work against this idea.
Meanwhile, calculations show that the 40% tax rate for each income of more than one million dollars will bring the US budget of about $ 400 billion in the next decade.
Earlier, President Trump's administration will deprive Harvard's right to pay taxes. This can happen if this educational organization loses the appropriate situation.