Trump says taxes for the wealthy should go up

Republican presidential candidate Donald Trump has expressed his support for increasing taxes for the wealthy.
Republican presidential candidate Donald Trump has expressed his support for increasing taxes for the wealthy. PHOTO: REUTERS

WASHINGTON (Reuters) - Donald Trump said on Sunday (May 8) that taxes for the wealthy should go up but that his tax plans would likely be renegotiated with Congress should he win the US presidency.

"For the wealthy I think frankly it is going to go up and, you know what, it really should go up," the presumptive Republican presidential nominee told NBC's Meet The Press.

Mr Trump said that he sees his current tax plans, which would reduce taxes for the middle class and businesses and increase those for the wealthy, as a negotiating "floor" that may change in dealings with Congress.

However, he added, "when it comes time to negotiate, I feel less concerned with the rich than I do with the middle class".

Mr Trump also said in the interview that he is in favour of an increase in the minimum wage. "I don't know how you live on US$7.25 (S$9.87) an hour," he said, but added that he would rather leave it to individual states to decide on the issue.