The tensions between the Trump administration’s populist win and its more traditionally Republican establishment types have been well-documented in recent months. And now, more than two months after Treasury Secretary Steven Mnuchin and National Economic Council chief Gary Cohn unveiled an outline of the administration’s tax-reform ambitions, another battle between the two wings appears to be brewing.
Trump’s chief strategist Steve Bannon is said to be pushing to raise the top tax rate on individuals, with Axios saying the former Breitbart CEO would like the top rate to have ‘a 4 in front of it’ – currently, the highest income-tax bracket in the US is 39.6% for individuals earning more than $414,000 a year.
This post was published at Zero Hedge on Jul 3, 2017.
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