Trump: “I Would Impose A One-Time, 14.25% Tax On Individuals And Trusts With A Net Worth Over $10 Million.” “Trump on Taxes ‘I would impose a one-time, 14.25% tax on individuals and trusts with a net worth over $10 million,’ Trump said. ‘For individuals, net worth would be calculated minus the value of their principal residence. That would raise $5.7 trillion in new revenue, which we would use to pay off the entire national debt.’” [The Club For Growth press release, 6/16/15] • 1999: Trump Proposed A One-Time Net Worth Tax On Individuals Worth Greater Than $10 Million. QUESTION: “Mr. Trump, can you outline your plan?” TRUMP: “Yes, I propose a one-time 14.25 % net worth tax on individuals with a net worth of greater than $10 million. This would raise $5.7 trillion in revenue. I would pay off the national debt entirely. That would save us $200 billion in annual interest payments. I would use $100 billion of this savings for tax cuts on the middle class and put the other $100 billion in the social security trust fund every year. That would make the social security system solvent for the next century. I would also repeal the 55% Inheritance Tax. More importantly America would experience the greatest economic boom in our history.” [Statement, Donald J. Trump Presidential Exploratory Committee, 11/9/99] 1999: Trump Said That The Rich Could Either Borrow Money Or Liquidate Assets To Pay 14.25% Net Worth Tax. QUESTION: “How will rich people come up with a 14.25 % payment to the government? TRUMP: “The same way every taxpayer does when they owe the IRS — they can either borrow the money against their enormous assets or liquidate some assets in order to pay their taxes — it happens every April 15th. However, in the case when a wealthy tax payer is not liquid, we could phase in their payments over time — say ten years — as long as government knew they could count on the revenue.” [Statement, Donald J. Trump Presidential Exploratory Committee, 11/9/99] • Trump Said That Wealthy People Would Pay His Proposed Net Worth Tax By Selling Off Assets. REDEKER: “People who have a net worth of $ 10 million or more, including yourself, generally don't have huge cash reserves. Where would they come up with this money?” TRUMP: “It's a very fair question and very good question that's been thought of in great detail. Some people would be able to sell things off, easily pay the tax, and ultimately get it back many fold by the booming economy. And you will have a boom like you literally have never had before and by the saving of the inheritance tax…. Well, they sell off assets, you'd sell off assets.” [Good Morning America, ABC, 11/10/99] Trump Said That His Proposed Net Worth Tax Would Eliminate The National Debt And Lower Taxes For The Working Class. TRUMP: “Ever since I can remember, people have been wanting to get rid of the national debt. My idea gets rid of the national debt, and then it gets rid of high tax rates -- you bring them down. There's something very compelling and very nice about that… Taxes for the working man and woman would go down to a very low level. The -- in terms of the rich, who are really paying for this plan -- and they should get something for that -- the inheritance tax, which is a terrible and onerous tax, would go away in its entirety.” [Inside Politics, CNN, 11/9/99] CORPORATE TAXES TRUMP’S PLAN LOWERED THE CORPORATE TAX RATE TO 15% Donald Trump’s Tax Plan Would Cut The Corporate Tax Rate To 15%. “No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes…. Under the Trump plan, America will compete with the world and win by cutting the corporate tax rate to 15%, taking our rate from one of the Confidential Page 174