Trump's Millionaire Tax Risks GOP Civil War | JQJO

Donald Trump's proposed millionaire's tax, increasing the top individual income tax rate to 39.6%, is causing turmoil within the Republican party. This plan, driven by figures like Commerce Secretary Howard Lutnick and Peter Navarro, clashes with existing economic policies, particularly Trump's tariffs, which are already causing inflationary pressures. GOP donors fear a party split over the issue, potentially jeopardizing the budget and leading to a double tax increase if Trump's 2017 tax cuts expire. This internal conflict could cost Republicans their majorities in the midterms, paving the way for Democratic control and further consequences for Trump.