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Trump Rejects Millionaire Tax Hike, Pushes Tariffs Instead

4/24/2025

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Summary

Story summary

President Trump has turned down a tax hike on millionaires, worried it might drive them away from the U.S. Instead, he’s pushing for tariffs, even as economists raise alarms. Meanwhile, Democrats slam his tax cuts for benefiting the rich at the expense of working-class Americans, while public trust in his economic leadership continues to wane.

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Story summary

President Trump has turned down a tax hike on millionaires, worried it might drive them away from the U.S. Instead, he’s pushing for tariffs, even as economists raise alarms. Meanwhile, Democrats slam his tax cuts for benefiting the rich at the expense of working-class Americans, while public trust in his economic leadership continues to wane.