Trump says Republicans should 'probably not' give a tax increase to 'the rich'

President Donald Trump seemed to recognize the political risk in raising taxes on the richest Americans but blamed Democrats for his retreat.

The president suggested to congressional Republican leaders that increasing income taxes on the highest earners to their pre-2017 levels, from 37 percent to 39.6 percent, would make room for his his promised cuts to taxes on Social Security, tips and overtime as GOP lawmakers attempt to pass the "big, beautiful bill" making his first-term tax cuts permanent.

"The problem with even a 'TINY' tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, 'Read my lips,' the fabled Quote by George Bush the Elder that is said to have cost him the Election," Trump posted Friday morning on Truth Social.

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The former president was elected in 1988 after staking his credibility to a vow not to raise taxes, but did raise some fees and levies by signing a “stealth budget” into law, but Trump disputed that broken promise – which became a catchphrase for late-night comics – had anything to do with his 1992 election loss to Bill Clinton.

"NO, Ross Perot cost him the Election!" Trump posted 33 years after that election. "In any event, Republicans should probably not do it, but I’m OK if they do!!!"