Simu Liu has spoken out against President Donald Trump’s newly proposed U.S. tax plan, which seeks to extend the 2017 Tax Cuts and Jobs Act (TCJA) and introduce new measures primarily benefiting high-income earners and corporations. Liu, known for his role as the lead character in Marvel’s Shang-Chi, emphasized his concerns over the inadequacies of the tax plan.
During a recent TikTok post, the 35-year-old Canadian actor expressed his willingness to contribute his fair share to taxes, stating, "I’m happy to pay taxes; I believe I should pay taxes, and I actually believe people like me should probably pay more tax." This statement puts forth Liu’s conviction against the notion of tax cuts for the wealthy, asserting, "I read the new administration’s tax plan, and it looks like I get a tax cut. But I don’t need a tax cut." He articulated worries about how the proposed changes would primarily aid the wealthiest Americans, with potential tax hikes for those making less than $360,000 annually. This sentiment aligns with findings from the Institute on Taxation and Economic Policy, which highlighted how the tax policy might skew against the middle class.
On the broader political front, Newt Gingrich (R-Ga.), former House Speaker, encouraged the President and fellow Republicans to prioritize tax cuts as part of contentious negotiations to secure economic stability before the upcoming midterm elections. "We can’t win by defending the margin; we have to grow the margin," Gingrich remarked during an interview with The Hill. He underscored the importance of tax cuts during periods of economic stagnation, drawing parallels to the economic downturn faced by the GOP after the failure to pass significant tax reforms during the Obama administration.
The proposed tax cuts include major revisions such as eliminating the limit on state and local tax deductions (SALT), which would predominantly benefit high-income earners, and reducing the corporate tax rate from 21% to 15% for U.S. manufacturers. Other suggestions would see exemptions for certain types of income, including overtime pay and tips, to shield experienced workers from taxation, aiming to deliver relief to middle-class families.
Simu Liu also raised concerns about the potential toll these tax policies could take on public services and programs—particularly those aimed at assisting lower-income families. He cautioned against scapegoated narratives surrounding wealth disparity, pointing out how tax policies could eliminate benefits for individuals reliant on social safety nets such as Social Security and Medicare.
Polling data indicate widespread public apprehension about the proposed budget cuts affecting programs like Medicare/Medicaid and food assistance for families. According to opinions aggregated by Data for Progress, many voters—especially independents—believe the proposed tax legislation would disproportionately disadvantage the working class, reshaping the dialogue surrounding the Trump administration's tax strategies.
According to Congressional Budget Office reports, tax cuts from the 2017 TCJA eventually grew the economy by only 0.3% after their implementation, far short of the 6.7% growth needed to offset the cuts and maintain fiscal health. This raises serious questions about the measures' long-term sustainability, especially when viewed alongside proposals to curtail programs benefiting millions of Americans.
Senator Ron Wyden (D-Ore.) articulated the concerns pervading much of the Democratic discourse, stating, "Republicans are gearing up for a class war against everyday families in America." These remarks highlight the partisan divide sparked by tax discussions, as Democrats reiterate claims of inequity benefiting elites at the expense of vulnerable populations.
Overall, the political maneuverings surrounding these anticipated tax reforms evoke not only economic debates but also questions of equity and accountability within government policy. With Trump expected to meet Senate Republicans to review proposed paths forward, the question remains how various factions within the party will reconcile their disparate views on economic policy as they aim to capitalize on the midterm elections.