President Donald Trump said the only reason he wouldn’t support an increase in the tax rate for millionaires is because it could lead to election losses for Republicans.

Many liberals and progressives are saying that if Trump wants to pay down the United States' federal deficit without cutting Social Security, Medicare or Medicaid, the only logical thing to do is raise taxes on millionaires and billionaires.

President Donald Trump said in an interview published Friday by Time that he would actually “love” a tax on This comes amid strong opposition from much of the GOP and contradicts other public statements he’s made this week about taxing the wealthy.