Republican presidential candidate Donald Trump stated that taxes for high income earners are “going to go down a little bit,” but “The hedge fund guys are going to have to pay” and that he will cut middle and corporate taxes on Tuesday’s “O’Reilly Factor” on the Fox News Channel.
Trump was asked [relevant exchange begins around 3:00] about the criticisms of his tax positions by the Club for Growth and what his tax program is. He answered, “I’m going to announce it in three weeks, but I’m actually lowering taxes, and especially for the middle class. The hedge fund guys are going to have to pay, because they pay practically nothing, peanuts. But I am lowering taxes overall, lowering for corporations. And by the way, Club for Growth is a phony outfit. They came to my office a few months ago. They asked me for a million dollars. I said no. Right after I told them no, because I don’t even know who these people are. Right after I told them no, they came out with a negative kind of an ad. … Just so you understand, I’m lowering taxes. I’m not raising taxes. So what they said is a lie.”
Host Bill O’Reilly then asked what would be “a fair rate” for him [O’Reilly] to pay. Trump responded, “Well, I’m announcing it in three weeks, Bill. So, I don’t want to really do that, but your taxes are going to go down a little bit.” After O’Reilly pressed for a specific rate, such as 40%. Trump said it would be “much lower” than 40%.
Trump continued, “Your taxes are going to go down a little bit, even though you make a hell of a lot of money. And the middle income is really going to go down, big league. And hopefully, we’re going to simplify to a point where H&R Block is going to be put out of business, because the people [have] to pay them a fortune because of the complexities. So, we’re going to be — I think you’re going to be very happy. We’re going to be lowering taxes, and we’re going to make it really good. We’re going to bring back the middle class. The hedge fund guys won’t be that happy, but they’ll still make a lot of money.”
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