GOP Denounces Millionaire Tax
Sen. John Thune Pushes Back But Keeps Door Open: What It Means for Your Wallet, Retirement, and Small Business
President Trump’s unexpected push to consider a tax hike on America’s ultra-wealthy has sent shockwaves through Washington—and it’s sparked serious debate among Republican leaders. Senate Majority Leader John Thune (R-S.D.) says he’s not sold on the idea—but he’s willing to hear it out.
📢 “I don’t want to see taxes go up on anybody,” Thune told CNBC. “We’re focused on cutting taxes—not raising them.”
Thune doubled down on traditional conservative values: lower taxes, smaller government, and pro-growth policies. But he acknowledged what many voters already know—Trump is no conventional president.
🗳️ “The American people didn’t vote for a typical politician. President Trump’s bold ideas reflect that,” Thune said.
Trump’s Focus: Working Americans, Not Washington Insiders
While the media focused on the top-line proposal—raising taxes on those making over $2.5 million a year—Trump’s core message is about protecting the middle class. His proposals include:
✅ Shielding tipped income from federal tax
✅ Exempting overtime pay from taxation
✅ Protecting Social Security benefits from the IRS
“This is about people who work hard every day and just want to take care of their families,” Thune said. “Trump’s plan puts working Americans first.”
Will Small Businesses Be Hurt or Helped?
Speaker of the House Mike Johnson (R-La.) now holds the keys to the next step, as the House begins debating whether to create a new tax bracket for top earners—something many conservatives argue would hurt job creators and discourage investment.
📊 “We’ve got to be careful here,” Thune warned. “This has to start in the House, and we need to make sure it fits our broader economic vision.”
Thune emphasized that any final tax package must protect small businesses, especially pass-through entities that file under the individual code. These make up 96% of U.S. businesses—and millions of American jobs.
💼 “If this moves forward, there’s discussion about carving out small businesses,” Thune said.
Conservatives Push for Permanent Tax Relief for Business Growth
Thune called for making key Trump-era tax cuts permanent, including:
- Bonus depreciation
- Research & development expensing
- Interest deductibility
- Full expensing for factory investments
🧾 “Businesses need stability to invest and grow,” he said. “That’s how we create real jobs and long-term economic security.”
Bottom Line: Trump’s Tax Message Is Clear—Help the Working Class, Not the Ruling Class
While some headlines focused on a possible tax hike for the rich, President Trump’s larger goal is economic fairness—not redistribution, but rewarding effort. His proposals are drawing interest across conservative circles as a way to strengthen families, protect retirement income, and revive American manufacturing.
👉 What does it mean for your savings, your business, and your family’s future? The debate is just beginning—but one thing is clear: Under Trump, the focus remains on the forgotten men and women of America.
