A Quote by Donald Trump
We're going to bring a lot of money in on trade. We're going to bring a lot of money on reciprocal. You know, as an example, when you have countries with a big tax and we get nothing for the same product and we're paying - our companies are paying 100 percent tax in some countries and if they send their product to us we pay nothing. Doesn't make sense.
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We have countries where, if we make a product and we send it to that country, they charge us 100 percent tax. If they make the same product and send it to us, we charge them nothing. You think that's smart? It's not.
Tax is a big expense. And I wouldn't mind paying taxes a lot less if our politicians knew how to spend the money, but they don't. They waste the money.
We never tell countries that they should have a particular number in terms of a tax number, you know, if countries can make do with whatever average tax they have. The question is, do they apply it to everybody? Or do they give sweetheart deals to some companies?
We spend a lot of money on protecting other countries. And yet those other countries aren't paying nearly what it costs us for that protection. We're - they're getting one of the great bargains of all time...
We need a wealth tax that on a one-time basis is going to take back at least some small fraction of the great windfall that the upper 1 percent, or 5 percent and pay down the government debt, pay back the federal debt because we can't put this on the next generation or they're going to be buried paying taxes.
Why do tax havens exist? Because rich countries allow them to. If the U.S. came down on tax havens in the same way they come down on countries that trade with Iran and Cuba, we'd have no tax havens in the world.
It isn't only rich countries that suffer from the effects of tax havens. Developing countries also lose billions of dollars in tax revenues due each year because wealthy individuals and some companies use tax havens to move assets and income offshore.
The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
I love to tell how I'm suffering because one percent we're paying 25 percent of the total. We're not paying 25 percent of the total taxes on individuals. We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends. They take from the woman who comes in and takes the wastebaskets out.
We're going to start making things again in America. As part of our plan to bring back our jobs, we're going to lower our business tax from 35 percent to 15 tax, the biggest since Ronald Reagan.
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.
"What is my highest sense of right?" we can ask at any decision point in our lives and not worry about if this is going to lose us a lot of money or is this going to make us a lot of money or whatever.
I've been paying a lot of money in state income taxes, and I've been happy to do it, but when this last thing happened, this 50 percent increase in the tax rate, it was just too much.
No sane person enjoys paying tax... money, after all, is a very nice thing to have. But it's the price we all pay for so many vital things in this country - and those of us lucky enough to have a bit more should be proud to be paying a little bit more as well.
I think we should have basically the same tax policy that Germany, Japan, the U.K., everybody else has, which is a tax rate in the mid-20s and no loopholes. Zero. The U.S. has the most antiquated tax system. And that means some people are going to pay more taxes, and some people are going to pay less.
When you work in Kenyan politics, or politics in a lot of African countries, if a deal goes wrong you can pay for it. When you work for senior politicians in a lot of these countries you don't actually make money in the electoral work, you make money in the influence brokering after that.
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