Tax Trumpery: Two Faces of The Donald

Would President Trump support tax cuts or tax hikes?  Nobody knows, not even the candidate, himself.

trumpery-definition-smallSecond in our Trumpery Series.  The first is here.

Last week, Donald Trump appeared with his family on the Today Show where he responded to questions from members of the studio audience as well as from hosts Matt Lauer and Savanna Guthrie. One of the questions was about taxes:

SAVANNA GUTHRIE: Do you believe in raising taxes on the wealthy?

DONALD TRUMP: I do. I do. Including myself. I do.

Trump-vs-current-tax-brackets2But this statement directly contradicts Trump’s own tax reform plan.  Our table to the right compares current IRS tax rates on high incomes with new lower rates proposed several months ago by Mr. Donald J Trump!  His lower tax rates are still here, on his campaign website.

Astoundingly, a video of the Today Show question and answer transcribed above is also on Trump’s campaign website, here!

At Liberty Works we support tax cuts for high income taxpayers because, as the pie chart below shows, most of them are the owners of the small and medium sized businesses that create most of the new jobs in America. They expand their businesses and start new businesses by reinvesting after tax profits.  Taxing away their profits simply diminishes the seed corn of economic growth.

For nearly a century Democrats have encouraged voters to indulge the ugly and self-destructive emotions of rage and resentment against “the wealthy.”  Denouncing high income Americans has been a core Democrat Party campaign strategy.  When they won elections Democrats harmed the economy and the non-rich by using government power to express these futile emotions through the tax code.

business-ownersSo it’s discouraging to hear the “Republican front runner” join the Democrats in calling for tax hikes on the wealthy.  It’s also alarming because he appeared on TV contradicting the tax plan published on his own website!

What are we to conclude from this? Is Mr. Trump openly, blatantly pandering with different messages to different groups of voters at the same time? Does he even know what’s on his website?  Does he remember calling for reductions in tax rates?  Did someone else place a “tax plan” on his website that he didn’t even bother to read?  

And why haven’t the media called for clarification?

Regarding the candidacy of Donald Trump we are reminded of when then House Speaker Nancy Pelosi famously announced that Congress would have to pass the Obamacare legislation so that she, members of the House and Senate, and the voters could discover what was in it.  Likewise we would have to elect Donald Trump to the White House to find out what his real policy ideas and beliefs are.  Let’s not.

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