ABC's Stephanopoulos Calls Out Trump For Contradicting His Own Tax Plan
George Stephanopolous: Saying The Rich Will Pay More "Would Be A Big Change From Your Plan"
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From the May 8 edition of ABC's This Week with George Stephanopoulos:
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GEORGE STEPHANOPOULOS (HOST): You say fixing the economy is your number one priority as president. Your tax plan is your most substantive and specific proposal out there. You said recently again that you believe in raising taxes on the wealthy, including yourself. But your plan gives a massive tax cut to the wealthy. How do you square that?
DONALD TRUMP: Well it gives a massive tax cut to everybody. If you look at Larry Kudlow, he said it's a great plan. He loves the plan.
STEPHANOPOULOS: But more to the wealthy than everyone else.
TRUMP: George, and I'll say this to people. I've said it many times. I make deals. I negotiate. I put in a plan that has a massive, massive tax cut, bigger than any other candidate. We have to negotiate with Congress. You know, I'm not going to be able to say, like President Obama, let's do an executive order, OK. It would be wonderful. It would be a lot easier, but you just can't do it. Or you're not supposed to do it, but he may do something. And what he's done will, probably much of it will be overturned by the courts. What I'm doing is I'm putting in a plan, and that's my maximum plan. That's what I want.
STEPHANOPOULOS: But bottom line, do you want taxes on the wealthy to go up or down?
TRUMP: They will go up a little bit. And they may go up, you know --
STEPHANOPOULOS: But they're going down in your plan.
TRUMP: No, no, in my plan they're going down. But by the time it's negotiated, they'll go up. Look, when I'm negotiating with the Democrats, I'm putting in a plan. I'm putting in my optimum plan. It's going to be negotiated, George. It's not going to stay there. They're not going to say there's your plan, let's approve it. They're going to say let's see what we can do. Now, it'll be a negotiation. I will try and keep everything. What I really want is lower on business, because business, we're the highest taxed nation in the world. And I want lower in the middle class. The middle class in this country is getting decimated. I want, and I will fight like hell for that.
STEPHANOPOULOS: But people like me and you should pay more?
TRUMP: I don't mind paying more tax. I'll be honest with you. I don't mind paying more tax. I've done very well over the last 10 years.
STEPHANOPOULOS: But under your plan, you pay less taxes.
TRUMP: But under my plan, it's going to be negotiated. What I'm saying is I will be submitting something like what I did in terms of concept. Because it's just a concept, George. We're putting in policy. We're putting in the statement. It's a concept. And I'll tell you what, the real concept is lower taxes for business. Lower taxes for the middle class. Lower taxes for everybody. And then we're going to start negotiating. So if I want to get lower taxes, which I is very important to me, I'm not going to put in high taxes. And I'm not going to put in what I necessarily want. I'm going to put in lower than what I want and we're going to negotiate.
STEPHANOPOULOS: But in the end, will someone like me or Donald Trump pay more under your tax plan?
TRUMP: I have a feeling we may pay some more. But I'll tell you, the middle class is going to pay a lot less. And I wouldn't mind paying more, George. We've got to do something, I mean, I wouldn't mind paying more. But business will pay less. The middle class will pay less. We're going to bring in our money. You know, the corporate inversion, what's going on is incredible with the companies leaving. But we have trillions of dollars outside of the country. We have a 10 percent tax on that money right now. They can't bring it back in. And by not bringing it back in, George, that's a disaster.
STEPHANOPOULOS: So it's something you're going to negotiate with the Democrats even though you're calling for more tax.
TRUMP: On that, on the money, on the trillions that are out there.
STEPHANOPOULOS: On the taxes on the wealthy. You say you're willing to pay more?
TRUMP: I am willing to pay more. And you know what? The wealthy are willing to pay more. We've had a very god run. You know, we hear all about Obama, we hear all about. We've had a very good run.