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

‘We should have paid off the national debt one way or the other’

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.”

[clip starts]

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.”

[clip ends]

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.”

Video files
Full
Compact
Audio files
Full
Compact
Similar stories
Trump: ‘I Have Very Little Debt’
Jen Palmieri: Democrats Need to Have Something Very Different, Not Try Out-Trump Trump
Congress on the Verge of Spending $3 Trillion in December as National Debt Climbs to $28 Trillion
Flashback: Obama Calls Bush ‘Unpatriotic’ for Adding $4 Trillion to the National Debt
Rand Paul Cites Pompeo: ‘Our Greatest National Security Threat Is Our National Debt’