Trump on Wealth Tax: We Have to Do Something to ‘Pay off the National Debt’

STEPHANOPOULOS: “Some other questions from conservatives about whether they will still support you after your entire record is known. Jon Karl talked about you were asked in the debate about single-payer health care, your support for that in the past. Also, back in 1999, you went on Good Morning America, also wrote in your book, calling for a 14.25 percent wealth tax. Take a look.”

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TRUMP: “This would be a one-time tax. 14.25 percent. Against people with a net worth of over $10 million, $10 million or more. It would pay off in its entirety the national debt of $5.7 trillion. It would save $200 billion a year.”

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STEPHANOPOULOS: “You now say you’re against that. But why were you for it then, why are you against it now?”

TRUMP: “George, at the time, I was willing to do it. I was wealthy even then. That was a long time ago, but I was willing to do it, and it was a suggestion. I would have loved to have seen the national debt be paid off. We’re going to soon be over $20 trillion, 18, actually close to 19 now. We’re going to be more than $20 trillion. We should have paid off the national debt one way or the other.”

STEPHANOPOULOS: “So let me ask you about that.”

TRUMP: “But we have to do something.” [Crosstalk]

STEPHANOPOULOS: “Let me ask about you that. Back in 1999, you were for the wealth tax. You were for single payer.”