Mike Pence warns Trump against taxing the rich

In the United States, former Vice President Mike Pence has publicly advised his former boss, Donald Trump, to refrain from increasing taxes on wealthy Americans. This advice comes as Trump considers raising the tax rate on individuals earning $2.5 million or more, amid discussions about extending the 2017 Tax Cuts and Jobs Act, which is poised to expire if not renewed by Congress. Pence's concerns stem from his belief that the proposed tax hikes would significantly affect small business owners, as many high-income earners file their taxes as individuals but reinvest their earnings back into their companies. During an exclusive interview with Fox News Digital, Pence stressed the importance of keeping these tax cuts permanent to lay a solid foundation for future economic growth. He emphasized that raising the top rate would disproportionately impact small businesses across America, potentially stifling economic progress. Pence's fiscal conservatism has long been a hallmark of his political career, and his current stance reflects a commitment to traditional Republican principles of low taxes and less government intervention. In the days leading up to Pence's warnings, Trump had expressed a willingness to entertain the idea of a tax hike on the rich, particularly as he navigates the complexities of passing a tax and spending bill through a divided Congress. In a recent social media post, Trump stated that he would accept even a small tax increase for the wealthy if it ultimately benefited lower- and middle-income workers. However, he also suggested that the Republican Party should probably oppose such measures, illustrating his internal conflict on the issue. The situation is further complicated by the upcoming fiscal challenges that the Republican Party may face if they proceed without sound financial principles. On one hand, Congressional Republicans are grappling with the potential deficits that could arise from implementing tax cuts without sufficient funding sources. On the other hand, Trump's chief aim of fulfilling his aggressive tax cut agenda clashes with conservative caution regarding fiscal accountability. The recent back-and-forth between Pence and Trump highlights the ongoing tension within the GOP as they attempt to navigate a path that balances their economic ideals with practical legislative realities.