Amid reports that President Donald Trump wants to let tax cuts on individuals making more than $2.5 million a year sunset as part of his reconciliation bill, former Vice President Mike Pence explained during a Fox News interview why he thinks that's a bad idea.

"Any suggestion that I've heard among some in and around the administration that we raise the top margin rate, the so-called millionaires tax, would be an enormous tax increase on small business owners across America," Pence said from Boston after receiving John F. Kennedy Profiles in Courage award. "It needs to be opposed."

Earlier in the week, he told Fox Digital that "the majority of people that file taxes of a million dollars are simply individuals that own businesses, and they file their taxes as an individual, but then plow that money back into their company. If you raise that top margin, it would be an enormous tax increase on small business America."

"Let’s make all the Trump-Pence tax cuts permanent. That’s a way to really lay a foundation to grow the economy in the days ahead," Pence urged.

"Historic victory"

Pence gave "President Trump all the credit in the world for an historic victory last November, and for sparing the country one more liberal Democrat administration."

He had praise for Trump, "not only for his victory, but for securing our southern border, for restoring morale and recruitment in our military, for taking the fight to the Houthis."

It's the first time Pence has publicly disagreed with Trump since he took office. He said that he would continue to be a strong voice for the conservative agenda in Congress.

"I truly do believe that some of the other steps the president is taking away from that conservative agenda should be a concern that would work against his legacy and ultimately the success of our party or our country. And so we're going to continue to be a voice against them," he said.

"I really do believe that for prosperity … for the success of our country, we need to stick to those time-honored principles of strong defense, American leadership on the world stage, less government, less taxes, traditional moral values and the right to life, and I’m going to be a voice for that," he added.

Lesser of evils

Trump obviously sees the tax cut sunset as another step toward balancing the budget that won't impact the middle class and those struggling to make ends meet.

As the lesser of all the evils where taxes are concerned, it is the obvious step.

What Trump probably doesn't understand, because most people don't, is that tax cuts are not zero-sum. When taxes are cut, historically at least, they generate more tax revenue because enough people take the extra money and use it to make more money--starting businesses, investing, etc.

When people make more money, that money is taxed, and the end result is a net gain for the government.

That's probably what Pence is referring to when he says that making the tax cuts permanent, and he is right.