A Quote by Lawrence O'Donnell
Donald Trump would not lose a single voter over any report indicating that his tax plan might not work.
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The [Donald] Trump plan would increase the national debt a little over a $1 trillion a year, the Trump plan would reduce taxes at all income levels with, of course, the biggest tax cuts going to the richest taxpayers as they always do.
Independent experts have looked at what I've proposed and looked at what Donald's [Trump] proposed, and basically they've said this, that if his tax plan, which would blow up the debt by over $5 trillion and would in some instances disadvantage middle-class families compared to the wealthy, were to go into effect, we would lose 3.5 million jobs and maybe have another recession.
According to an analysis by the Tax Policy Center, Donald Trump`s tax plan is going to increase the national debt by more than 50 percent over ten years.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
Actually, Congress just did pass a tax plan like Donald Trump`s.They passed a tax plan which some Democrats voted for, significant number of Democrats which gave huge tax breaks to wealthy people and corporations.
The Trump plan is a different plan. It's a you're fired plan. And there's two key elements to it. First, Donald Trump said wages are too high. And both Donald Trump and Mike Pence think we ought to eliminate the federal minimum wage.
We all want to know what taxes we would pay under [Donald Trump] tax plan. That's a question.
America should really wonder about a President Trump, who had a campaign manager with ties to Putin, pro-putin elements in the Ukraine who had to be fired for that reason. They should wonder when Donald Trump is sitting down with Vladimir Putin, is it going to be America's bottom line, or is it going to be Donald Trump's bottom line he's going to be worried about with all of his business dealings. This would be solved if Donald Trump would release his tax returns as he's told the American public that he would do.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
There are a lot of [Donald] Trump people, I mean, Trump, I remember hearing it, some of these rallies that he had talking about a special prosecutor, and his audience was responding wildly positively to it. So we'll see. Look, I do not think that Trump supporters are going to abandon him over this, and I don't think he's gonna lose any of them over this, but I do know a couple people are gonna be livid that it's not gonna happen.
I think he [Donald Trump] recognizes that a plan that would increase the deficit by $10 trillion over a decade is not a plan that's likely to get traction in Congress.
There's a Russia angle to all this, because remember, we don't have Donald Trump's tax returns. He did a very - relative summary, 104 page campaign financial disclosure. One year of tax returns, reportedly - we've seen the pictures, 12,000 pages. And tax returns are replete with his foreign interests, including, perhaps, his Russian interests. That may be the reason he doesn't want to turn over his taxes.
The 1984 tax trials, when he appealed his New York state and New York City audits, were about Donald Trump claiming zero revenue for his consulting business and taking over $600,000 of deductions, for which he couldn't produce any documentation, no receipts, no checks, nothing, those two elements, zero income and huge deductions, combined with his own tax guy testifying under oath, that's my signature, but I didn't prepare that tax return, those are very strong badges of fraud.
The president elect [Donald Trump] says that will lead to more investment and growth. Skeptics say the tax plan would explode deficits.
There are a series of connections between Donald Trump and his closest advisers and Russia that at least raise significant questions. Some of those questions could be answered if Donald Trump was willing to release his tax returns, but he's unwilling to do that.
As president, I would promote a Fair and Flat Tax plan, known as the 'EZ Tax.' My tax plan would be the largest tax cut in American history, reforming individual, business, and worker taxes.
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