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USA: possible Tax Hike On Rich

President Trump has announced plans to increase taxes for wealthy Americans in his tax reforms as he
President Donald Trump said the rich might see a hike in taxes as he pursues a major tax overhaul with outreach to Democrats who oppose cutting rates for the wealthy, while Republicans in Congress set a timetable to unveil their plan. The White House and the Republican-led Congress have not put forth a detailed tax plan despite months of talks that have excluded Democrats. House of Representatives Speaker Paul Ryan said an outline would be unveiled during the work week beginning Sept. 25, with congressional tax-writing committees crafting detailed legislation in the subsequent weeks. Trump offered no specifics or evidence for how why the taxes would go up. Democrats have criticized the Republican tax overhaul efforts as benefiting mainly the wealthiest Americans. Trump, a real estate mogul, said the rich would not be making gains with the plan, which he said was geared toward providing the largest tax cut ever for the middle class and creating jobs. «I think the wealthy will be pretty much where they are,» Trump said of taxes on the rich, without specifying the income level. «If they have to go higher, they’ll go higher, frankly.» Trump will host Senate Democratic leader Chuck Schumer and House Democratic leader Nancy Pelosi on Wednesday evening to discuss the legislative agenda wit...

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