A.G. Gancarski
Those who think wealthy people deserve to pay more in federal income tax will likely be discouraged by recent comments from Rep. Byron Donalds.
The Naples Republican and candidate for Governor says income tax increases for the rich are a non-starter with him and other Republicans in Congress.
“There’s been whispers of this, but this is not concrete. I don’t expect it to be in the (tax cut) package. I’ll just be clear. That’s not something I’m going to support and I know there are many Republicans on the Hill who are not going to support that. Frankly, the vast, vast, vast majority of Republicans are not going to support that,” Donalds said on “Sunday Morning Futures.”
President Donald Trump dangled the proposal as a possibility last week, but quickly walked away from it as it would be “very disruptive” and “a lot of millionaires would leave the country.”
Donalds embraces spending cuts as a way to right side the deficit-bloated federal budget, chiding colleagues who might lack the political mettle to back them.
“We can’t allow bloated federal spending that continues just because you’re worried about the midterm elections. If we cut spending appropriately, the American people see a more efficient government could still provide services and we have a better economy overall, the American people will reward us,” Donalds predicted.
Donalds has said previously $1.5 trillion in cuts is the baseline, but that $5 trillion would be possible if people had the political will. He previously said there was “at least” $600 billion in waste, fraud and abuse in Medicaid,” hinting at possible cuts to the health care safety net program for low-income people.
10 comments
Michael K
April 28, 2025 at 8:08 am
News flash: These people only care about billionaires who do not pay their fair share. The rest of y’all are just suckers who will end up carrying the weight. Fair share. As Warren Buffett famously says, there is something seriously wrong in a system where his secretary pays a lower tax rate than he does.
Michael K
April 28, 2025 at 8:09 am
Oops: she pays a higher percentage rate than he does. My bad.
R Russell
April 28, 2025 at 8:51 am
Who cares what that POS Publicity Whore says!
Foghorn Leghorn
April 28, 2025 at 9:07 am
Funny how all of my comments say “awaiting moderation”, yet no one else’s has that statement.
Ocean Joe
April 28, 2025 at 9:22 am
Ed, how do you know? If they’re ‘awaiting moderation’ they havent been posted yet, right? It’s not a conspiracy like chemtrails or space lasers, just an annoyance.
Foghorn Leghorn
April 28, 2025 at 9:36 am
There is obviously a tag on my name. Did you put it there Ocean? You seem to have lots of inside information.
JD
April 28, 2025 at 9:47 am
A third of mine have that. You triggered whatever keyword software or algorithm they use. It’s not just you.
Ocean Joe
April 28, 2025 at 9:28 am
Donalds crystalizes the Rick Scott version of the GOP: balance the budget on the backs of the poor and continue pretending that’s possible despite the numbers.
Steve Bannon wants Trump to raise taxes on the rich because he wants the societal changes Trump brings, but Donalds and the traditional supply siders dont really care beyond widening the wealth gap and hoping to be on the right side of it.
Anyone who’s serious about balancing our budget and reducing our debt knows you cant cut social programs a bit while letting a $4.6 trillion tax cut (revenue loss) go out the backdoor.
JD
April 28, 2025 at 10:07 am
Fixing the budget the right way will take 10 to 15 years. That is longer than any politician plans ahead, but it is the timeline our kids and grandkids will live with. We either fix it now like adults or we leave them with a wreck.”
Adult Budget Plan:
1.) Tax capital gains fairly. Raise about 35 billion dollars per year by making millionaires’ investment income taxed like work income.
2.) Close the “Buy, Borrow, Die” billionaire loophole. Tax stock-backed borrowing over 5 million dollars. Save about 15 to 20 billion dollars per year.
3.) Trim military waste. Cut 10 percent by targeting fraud and bloated programs without hurting troops. Save about 88 billion dollars per year.
4.) Modernize government retirement. New hires move to 401k-style savings, ending lifetime pensions. Save 20 to 30 billion dollars per year over time.
5.) Enforce a minimum corporate tax. Make billion-dollar companies pay at least 15 percent. Save 70 to 100 billion dollars per year.
Impact: Slow the bleeding by 200 to 250 billion dollars per year now. Combine with responsible reforms to balance within 10 to 15 years.
You cannot rebuild trust, stability, or the American Dream in two years. But you can destroy it that fast. If we care about our kids, we need leaders who think beyond the next election.
JD
April 28, 2025 at 10:29 am
And you can cut waste by dropping Byron’s salary to zero, because that’s what he’s worth.