Billionaire businessman Donald Trump says “only an idiot” would approve the Korea free trade deal that’s coming up for a vote on Capitol Hill. Trump’s been on a tear, blasting “moronic” free trade agreements that are “sucking money out of this country.” He says we should tax imports from China - “it’s not a free trade country” - and make stuff in America instead.
Billionaire businessman Donald Trump tells Fox News “only an idiot” would approve the Korea free trade agreement. It’s the biggest free trade deal since NAFTA, and could be up for a vote on Capitol Hill within weeks. Trump’s been on a tear of interviews blasting “moronic” free trade agreements that are “sucking money out of this country.” He tells CNN we should slap a tax on China since “it’s not a free country.” Trump wants to see a tax on imports from China. That would pay of the deficit and put Americans to work making more of what we buy. Watch the interviews.
The last time Trump flirted with running for President he proposed taxing the rich to wipe out the national debt:
Trump, a prospective candidate for the Reform Party presidential nomination, is proposing a onetime net worth tax on individuals and trusts worth 10 million or more. By Trumps calculations, his proposed 14.25 percent levy on such net worth would raise 5.7 trillion and wipe out the debt in one full swoop.
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The net worth tax is the cornerstone of Trump's economic plan released Tuesday morning.
"No one has put forward a plan to make this country entirely debt free as we enter the next millenium," Trump said in a written statement.
"The plan I am proposing today does not involve smoke and mirrors, phony numbers, financial gimmicks, or the usual economic chicanery you usually find in DisneylandonthePotomac," Trump said.
Trump would exempt the value of an individual's principal home from the net worth total.
"By my calculations, 1 percent of Americans, who control 90 percent of the wealth in this country, would be affected by my plan," Trump said.
"The other 99 percent of the people would get deep reductions in their federal income taxes," he said.
Eliminating the national debt would save the federal government 200 billion a year in interest payments, Trump said. He proposes to earmark half the savings for middle class tax cuts, and the other half for Social Security.
"Thats because your basically and idiot. Badeye posted on 2011-04-29 10:30:22 ET
