During a discussion on Fox Business, host Stuart Varney expressed confusion over why Republicans haven't considered raising taxes on the wealthy to support their budget bill. He deemed it politically expedient, a sentiment challenged by panelists who believe the rich are already contributing significantly through taxes. Gerry Baker argued against the notion, stating high-income earners already face a top tax rate of 37%. Varney quickly clarified that he wasn't advocating for higher taxes but was merely noting the potential political advantage. The debate highlighted the complexities of tax discussions within GOP politics.
I don't understand why they didn't move to higher taxes on the very very wealthy, Varney said. That would be politically expedient.
I think it would be bad, bad policy, Baker said. Those people are already paying high level, high rates of tax 37 percent top rate of tax.
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