Trump seemed to acknowledge that on Wednesday. “I think it’s probably better for the high-income people and I’m not looking to do that,” Trump said.
Trump has previously said he is looking at cutting payroll taxes, a move that could quickly lower levies on working Americans. However, Trump has also said that a payroll cut isn’t needed right now because the economy is strong.
Trump’s comments came as the U.S. economy has shown warning signs that could presage a recession, although economists surveyed by Bloomberg News say there’s only a 35% chance of it hitting within the next year.
--With assistance from Saleha Mohsin.
This article was provided by Bloomberg News.