That other time Donald Trump made a blockbuster tax proposal…

Trump’s 1999 tax-hike plan as described by the New York Daily News.

President Donald Trump on Wednesday proposed the outlines of a tax plan that Treasury Secretary Steven Mnuchin described in Trumpian terms as the “biggest tax cut” and “largest tax reform” in American history.

 

Check out ace Palm Beach Post reporter Jeff Ostrowski’s overview of the Trump proposal by clicking here.

 

This isn’t the first time part-time Palm Beach resident Trump has proposed a massive overhaul of the U.S. tax code.

 

Back in 1999, when he was considering a third-party run for president, Trump proposed a one-time 14.25 percent “net worth tax” on wealth held by individuals and trusts valued at $10 million or more. Trump estimated the tax would generate $5.7 trillion and wipe out the national debt at the time. (The national debt is around $19.8 trillion now.)

 

The tax-the-rich plan is one example of how Trump has changed over the years. When he was flirting with a 2000 run, Trump also favored abortion rights, background checks for gun purchases and universal health care.

 

 

Reader Comments 0

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Basic HTML is allowed. Your email address will not be published.

Subscribe to this comment feed via RSS