Mr. Bloomberg has attempted to allay those objections in part by promising to raise taxes on people like himself: He opposed the passage of Mr. Trump’s tax cuts in 2017, and on the day he entered the presidential race he called for tax increases on the wealthy. He has highlighted that stance in television commercials, but until now he did not describe in detail how he would seek to make the rich pay more. While Mr. Bloomberg would certainly pay more under his own tax plan, his campaign declined to specify how much and said that no such assessment had been made. “Right now, I give nearly all of my company’s profits to charity,” Mr. Bloomberg said in a statement on Saturday. “Under my plan, I’ll continue doing that — but I will also pay more in taxes to make sure all Americans have the same opportunities I did.

Source: New York Times February 01, 2020 17:31 UTC