Donald Trump: Let's Tax the Rich to Pay the National Debt
So Donald Trump wants to run for the Republican ticket, eh? He's going to have some trouble explaining this away.
Trump, a prospective candidate for the Reform Party presidential nomination, is proposing a onetime net worth tax on individuals and trusts worth 10 million or more. By Trumps calculations, his proposed 14.25 percent levy on such net worth would raise 5.7 trillion and wipe out the debt in one full swoop.
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The net worth tax is the cornerstone of Trump's economic plan released Tuesday morning.
"No one has put forward a plan to make this country entirely debt free as we enter the next millenium," Trump said in a written statement.
"The plan I am proposing today does not involve smoke and mirrors, phony numbers, financial gimmicks, or the usual economic chicanery you usually find in DisneylandonthePotomac," Trump said.
Trump would exempt the value of an individual's principal home from the net worth total.
"By my calculations, 1 percent of Americans, who control 90 percent of the wealth in this country, would be affected by my plan," Trump said.
"The other 99 percent of the people would get deep reductions in their federal income taxes," he said.
Eliminating the national debt would save the federal government 200 billion a year in interest payments, Trump said. He proposes to earmark half the savings for middle class tax cuts, and the other half for Social Security.
Yeah, Trump is done. Newt's got some big problems with flip-floppage. That leaves Mittens, Palin, Bachmann, and TPaw. Oh, and Boss Hawg Barbour. It's going to be a very interesting Republican primary season.
If you say it enough maybe the big meanie Trump will just go away. So desperate are Democrats to get rid of Trump you go digging for quotes from 1999. A lot has changed since then and like it or not Obama is going to be Trump's piñata on the economy. I look forward to future posts on this Karoli.
Goodnight, Frau Blücher
on the term "the other 99 percent". It came up on the first page.
You forgot the Huckster in your list.
* There are two types of Republicans: millionaires and suckers.
"Mugsy's Rap Sheet": Recording history for those who seek to rewrite it.
not surprised, VR.
me-oww!
I'm just able to see things for what they are no matter if I like them or not. I would prefer Ron Paul on economics. The fact is if Trump runs, and it sure looks like he is going to, that he will be the GOP's next Ronald Reagan, it's pretty obvious. If Trump gets the GOP nomination then Trump has a lot of ammo to go after Obama with and Obama has little show for the last 4 years on the economy. Like it or not, Trump is going to be hard to beat against Obama. People on C&L though are deluding themselves thinking he is a marginal issue, sure hope the Dem's in office don't make the same mistake or Trump will be the next president.
Goodnight, Frau Blücher
defending the guy, I mean, for not being for the guy.
me-oww!
NEW YORK (CNNMoney.com) -- Trump Entertainment Resorts, the casino operating group, filed for Chapter 11 bankruptcy protection, according to court documents filed Tuesday in Camden, N.J.
http://money.cnn.com/2009/02/17/news/companie...
Donald Trump declared Thursday from the witness stand in a Camden, N.J., bankruptcy courtroom, explaining why the gambling company that bears his name is now on its third pass through Chapter 11.
http://blogs.wsj.com/bankruptcy/2010/02/26/tr...
his gambling company goes bankrupt... 3 times? trump is a massive target.
he would not hire Casino Jack to sandbag the competing Indian tribes.
TFR
trump's good ethics are legendary
He's a pandering, philandering opportunist who's undergone more image rehab than Nixon, Wallace and Gingrich combined. His fame is based on his ego, which is based on his wealth- which he inherited. The only thing "smart" about this guy is that he knows how to take credit for projects to which he's committed little more than his name, and he knows how to avoid taking financial hits by passing off his failures to partners and contractors.
That he's got support from people like you says a little about his innate, slimy charisma; It says a lot about
Kool AidFlavor Aid drinkers like you and other Americans whose values systems are predicated on nothing more than financial wealth.Good day, sir.
Don't try to confuse the issue with half-truths and gorilla dust.
Look at it as if you were a GOP or moderate supporter. Who in the GOP is going to beat Trump? Name one on the horizon that has a chance. Now assume Trump gets the GOP nomination, not a hard stretch really.
The only topic in 2012 that will matter is the economy. What is Obama going to defend with? His last 4 years have shown no improvement in the economy, you can take all of Trumps worst moments and throw them at him and he is still more qualified on business and economics than Obama. Trump has one advantage, he gets to use his normal normal let's not mince words approach, Obama is going to have to maintain his statesman approach. Obama won't stand a chance against Trump in a debate.
Goodnight, Frau Blücher
...GOOD DAY, SIR.
Don't try to confuse the issue with half-truths and gorilla dust.
Hope that Wonkavator works for you, the Dem's are going to need it.
Goodnight, Frau Blücher
But he's very good at doing those things.
every few years is going to win. It is rich if you think he has a chance with conservative voters,
With consistent ~$1.5 trillion budget deficits, it's only a short matter of time before the country is deep in the red again.
he talks shit. he is a rich guy, He will never give up his money or any others rich guys money.
It sounds like Trump has a regular Monday morning gig on Fox and Friends. He was on that show this morning via phone and he's digging in deeper on the birther story. He mentioned something about Obama might have been born in another country and then his parents ran the announcement in the paper when they arrived in the US. If he keeps this silliness up no one is going to care what he said in 1999. I'm already in that catagory. I would like to see someone confront him about his tax ideas today and see if they match what he said then. My guess is that he's changed his mind within the past two tea party years.
Oh, and this morning he reminded the fox and friends viewers that he was a "smart man" more than once. When you have to work so hard to convince people that you are smart, maybe you aren't.
Say what you mean. Mean what you say. But don't say it mean.
when they got to Hawaii. Except the only birth announcements I've seen are the kind the paper gets from the hospital, or the vital statistics office. I don't think this guy is smart enough to be pres if that's the way he thinks. He obviously has problems w/ race, too. Black man in the WH style.
me-oww!
will he keeps his verbal promises..Not at all..will be the answer..Then it will be Congress that would have to get this through and the repubs are the party of NO!
Good luck chump trump!!
when he doesn't feel like it. Ask the Deutche Bank, who is holding the paper on a 40m loan. Trump says the financial crisis is 'an act of God,' and evoked a clause in the contract to not pay the loan and initiated a countersuit asserting his image has been damaged.
And he's in bankruptcy--again. Chapter 11, reorg. I'll just bets he counts on bnky to save money and dictate more favourable payback terms.
me-oww!
He also bragged about stealing money from Gaddafi on the View last week. Now, dirtbag as he might be, we don't just break legally binding agreements because we feel like it.
Trump is trying to woo and give credence to the birthers by saying that smart people like himself also question the President's place of birth. It's so freakin obvious what he's doing and a "smart" man wouldn't be that obvious. I used to think I didn't like Trump and lately he's proven that I was right, he's a flaming jerk.
Say what you mean. Mean what you say. But don't say it mean.
...claimed it only took him an hour to get it.
In California, we can't get birth certs that look like that. The best we get is the certificate of live birth just like hawaii, because they made a decision to destroy records and certify abstracts instead.
by the hospital. Both even have my baby footprints. Course it doesn't help that one was issued based on the name my mother gave me and the other based on the name my father gave me and they were not the same. Name, that is. Mother and father were the same. Footprint too.
TFR
Strange that such an odd genesis should lead to such an able mind. ;)
Hasa Diga Eebowai
Aphrodite, my mom, were often of a like mind, but in in gendered different names.
TFR
I know how the president feels. I have been trying to renew my driver's license for two weeks. They require you to show your birth certificate. The first time I went I took a copy and they refused that. Then I went to the safety deposit box and got my original certified copy to take to them. The guy looked it over with a fine toothed comb and then began asking me pop questions about the information on it.
When this all began the guy at the DMV gave me a website address where you can order certified copies of birth certificates et al. I didn't need it so I didn't pursue it.
Say what you mean. Mean what you say. But don't say it mean.
Smart enough to have chosen a father who already controlled a real estate empire!
Old football coach Barry Switzer, via the late Ann Richards: Some people are born on third base and think they hit a triple.
Don't try to confuse the issue with half-truths and gorilla dust.
is to Jim Hightower.
TFR
Last time I checked, it was Switzer as the source. But we both know how attributions are on popular saws like that one. If we could trace it back to the true source, it probably came from a sixth grader in Brooklyn circa 1941.
Don't try to confuse the issue with half-truths and gorilla dust.
about poor George being born with a silver foot in his mouth.
http://www.twofeetthick.com/2004/09/who-first...
TFR
I'm confusing Richards and Hightower on this.
Thanks for the correction!
Don't try to confuse the issue with half-truths and gorilla dust.
Your Switzer as original source is proof of your genius.
TFR
I hope he doesn't explain it away, I hope he makes it a campaign promise. If taxing the top 1% is a good idea, then its a good idea; its who will deliver that counts...so far, nobody. I'm assuming he's flip-flopped on this?
...for it. They're too committed now to destroying the middle class in favor of the wealthy. It could be entertaining, however, to watch the Kochtopus encircle Trump with their many tentacles.
This website ranks him as a "liberal-leaning populist" based on his 1999-2000 responses. You're right that he doesn't seem to fit the GOP mold....which is a good thing. I hope his money and star power can help him beat out the truly scary Republican candidates (i.e. all of them)...since President Obama is going to have a tough time at a repeat.
Not sure how accurate this site is, so have grain of salt ready...but they nailed Bush and Cheney as far right, Obama and others as left. Again, this is based on statements more than action.
http://www.ontheissues.org/donald_trump.htm
Take into account the birther statements and he may still be populist, but not really liberal-leaning.
Don't try to confuse the issue with half-truths and gorilla dust.
the birther stuff is just stupid...and bizarre that people are so into it. It truly makes him seem like a wacko.
There's plenty that makes Trump seem like a wacko. Birtherism is just one more piece of evidence.
Don't try to confuse the issue with half-truths and gorilla dust.
If by "interesting" you mean chock full 'o' crazy then I agree!
The first time I've ever agreed with Donald Trump...lol
Same here man.
Trump isn't political and he's neither liberal or conservative. He's an opportunist pure and simple. And the fact the he thinks the republican ticket represents an opportunity for him speaks volumes about the republican party and its leading figures.
sorry trumpy, but this "onetime net worth tax on individuals and trusts worth 10 million or more" IS a gimmicky band-aid.
This and his documented birther bullshit over on TP just makes me have to ask... so making a ton of money being a predatory schmuck makes this asshole an expert on exactly what besides that?
In the marketplace of ideas, too many people shop in the bargain basement.
-- Thunder BlueRose
Why, yes, I am a card-carrying member of the ACLU
http://saxman.bravepages.com
When Trump says anything, be sure to keep your hand on your wallet, 'cause there's a gotcha in there somewhere.
Never does a damned thing he doesn't expect to somehow make a profit from.
In the marketplace of ideas, too many people shop in the bargain basement.
-- Thunder BlueRose
Why, yes, I am a card-carrying member of the ACLU
http://saxman.bravepages.com
Interesting idea, but take away the "one-time" part.
TAX THE FUCKING RICH.
Tax em till they choke.
but I gave you a late response regarding our portly Idaho superintendent you might find entertaining.
TFR
If he's for real, then sure! Let's get him in there to tax the top 1% and get us out of this mess! However, we know this won't happen. The burden is (and will always be) on the poor and middle-class.
Hopefully, Trump will just plod forward despite the Republican outrage. I'd love to see this idea get some banter in a debate and shift the focus from "no taxes" to "how WILL you raise revenues?". Trump has a good defense of his "plan" by simply asking if the other candidates are serious about paying down debt, or are they more focused on cutting social programs? I would enjoy watching Bachmann stammer through a talking point reply.
Maybe Trump the chump thinks we should bankrupt the country the way he bankrupts his businesses.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
A one-time adjustment isn't going to fix the problem. We are experiencing an exponential draining of money up to the very richest. We'd be right back where we are now inside a couple of years, and we'd have a rich smart-ass birther in charge to deal with. No way. The whole economy needs adjustment, and regulation, and this idea just demonstrates a total lack of understanding of our situation by the Chump.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
If nothing else we know about Trump - we know this: ME, MYSELF, and I !!!!!
If, by some freak-of-nature, he gets voted in ... for sure, the middle working class will be extinct!
Let's face it - he could win if he proposed pretty much the same after the primaries again.
Congress wouldn't vote in favour of it, of course.
@Huckabee.
It's nonsense to assert that GWB killed 1,800 people in Katrina.
He's also not to blame for 9/11. A president's ability to avoid deaths in these cases was very small.
Listening to trump on the talk shows, saying if he does enter the race for president, how he will straighten out the wrong in our country. And, goes on acknowleging the fact that he does not believe Obama was born in the country!!! All the while, everyone's eyes are just focussed on his pompadour!!!!!
Well, we won't judge somebody by his look, right?
Pompadour? Looks more like a storm cloud.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
Nah, just looks like he found his official Daniel Boone Coonskin Cap from when he was a kid, thought it'd still fit, and it got stuck...
In the marketplace of ideas, too many people shop in the bargain basement.
-- Thunder BlueRose
Why, yes, I am a card-carrying member of the ACLU
http://saxman.bravepages.com
What a mess the Republican candidates are. Looks like a police line-up or at least it should be. Newt says any old thing to the press. Bachmann shouldn't even give interview she's so embarrassing. Palin refuses to give interviews and makes up fake twitter personas and twits away about herself (now that's presidential material). Boss Hog is just plain funny. And T Paw... just give up. And the rightligious tea-scrotes like Mormons only slightly more than Mexicans, Muslims, women, or Blacks , so good luck Mittens.
Trump will simply claim that he's had a change of heart in the last twelve years and all will be forgiven. If the Republicans can gloss over the serial infidelities and the multiple bankruptcies -- and believe me, they will -- they'll gloss over this, too. If even a die-hard member of the Religious Right like Pat Robertson was willing to endorse a man like Giuliani for the Republican presidential nomination in 2008 despite Rudy's serial infidelities and his support for the LGBT community, then you can be assured that a certain segment of the Republican Party will not only be willing but eager to dismiss and rationalize this little momentary lapse into what they would consider insanity in Trump's part. The one thing which stands a better chance of derailing him than this quote is the inescapable fact that he's made financial contributions to Democratic politicians in the past, despite all his recent attempts to repackage himself as a hard-line neoconservative. Actions speak louder than words, after all...it's much easier to make excuses for statements made than it is to make excuses for money paid, since the latter means you're literally putting your money where your mouth is.
Never trust anyone who insists that patriotism requires you to blindfold yourself with the flag.
By his math, individuals and trusts worth more than $10 million, owned by Americans in 1999, had a combined total of $46 trillion?
There's not even that much wealth on the entire planet!
But here we are 2011 and we have added to the debt exponentially since then.
Goodnight, Frau Blücher
This is the best and most realistic solution to a problem I have seen a Republican come up with in 30 years. So even if I don't like Trump, I have to give credit where credit is due. Democrats should be pushing for this type of solution instead of giving consideration to the Republican ideas of cutting "entitlements" like Medicare and Social Security.
It's actually a pretty good idea and, to my knowledge, the only one he's ever had.
Trump also pointed out that since the US is the largest consumer of oil in the world, we should be negotiating long term contracts to buy in bulk at discount.
if we can find a way to prevent him from implementing any idea other than this.
Alfie46
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