Trump Changes Tune on Tax Plan, Now Open to Raising Some Rates

Posted: May 09, 2016 8:00 AM
Trump Changes Tune on Tax Plan, Now Open to Raising Some Rates

Presumptive Republican nominee Donald Trump is changing his tune when it comes to his fiscal policies. Last week he warmed up to the idea of raising the federal minimum wage, and now, it seems he's open to raising some taxes as well. 

"By the time it gets negotiated, it's going to be a different plan," Trump said on ABC's "This Week" regarding his tax proposal. 

Under Trump’s current plan, the tax rate for the highest earners would drop from 39.6 percent to 25 percent.  But according to the businessman, this figure would likely change.

"On my plan, they're going down. But by the time it's negotiated, they'll go up," Trump said.

"Look, when I'm negotiating with the Democrats, I'm putting in a plan. I'm putting in my optimum plan. It's going to be negotiated. ... It's not going to stay there. They're not going to say, 'There's your plan, let's approve it.' They're going to say, 'Let's see what we can do.' "

The wealthy, he told NBC's Chuck Todd, will likely end up with a higher rate.  

“The rich is probably going to end up paying more,” Trump said, adding that he's "willing to pay more, and you know what, the wealthy are willing to pay more.”  

Trump indicated that the most important part of his tax plan would be to lower taxes on middle class America and businesses. 

He also defended his right to change his stance on policy issues, such as his tax plan. 

“I'm allowed to change. You need flexibility,” he said.