Tags: weathtax | rogerstone | bloomberg | taxreform

Bloomberg: Trump Pushed Wealth Tax in '99 on Bad Math

donald trump speaks at a press conference for the reform party
New York billionaire real estate tycoon Donald Trump made an appearance for the media atop a Beverly Hills, Calif., hotel Monday, Dec. 6, 1999.  (AP Photo/Chris Pizzello)

By    |   Sunday, 03 March 2019 02:04 PM

President Donald Trump had pushed a 14.25 percent wealth tax in 1999, perhaps orchestrated by political operative Roger Stone, Bloomberg reported.

The problem was Trump's purported math was off by trillions of dollars in an effort to pay down the national debt as a push in Trump's brief Reform Party presidential hopes for 2000, according to the report.

Trump's plan of a 14.25 percent tax on those with wealth greater than $10 million suggested it could raise $5.7 trillion toward the debt, but that would have been raised only by adding that tax to the entire U.S. population, Bloomberg reported, citing Moody's Analytics economist Mark Zandi.

Trump's radical past plans he would never back now were detailed in the 2000 book "The America We Deserve," co-authored with Dave Shiflett, who believes Trump's weath tax was Stone's idea.

It was the same book President Trump once backed universal healthcare, per the report.

Neither the White House nor Roger Stone responded to Bloomberg's request for comment.

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President Donald Trump had pushed a 14.25 percent wealth tax in 1999, perhaps orchestrated by political operative Roger Stone, Bloomberg reported....
weathtax, rogerstone, bloomberg, taxreform
166
2019-04-03
Sunday, 03 March 2019 02:04 PM
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