Trump: Raise Taxes On The Rich, Lower Them For Middle Class

| by Ethan Brown

GOP presidential hopeful Donald Trump said in a new interview that he would change the tax code to benefit the middle class and likely raise taxes on upper class and hedge fund investors and bankers.

“I would change it. I would simplify it,” Trump told hosts Mark Halperin and John Heilemann of Bloomberg TV’S “With All Due Respect.”

“You’ve seen my statements, I do very well, I don’t mind paying some taxes,” Trump added.

Specifically, Trump said he would target profits made from hedge funds, which are taxed at a lower rate than regular income, according to Bloomberg.

“I would take carried interest out, and I would let people making hundreds of millions of dollars-a-year pay some tax, because right now they are paying very little tax and I think it’s outrageous. I want to lower taxes for the middle class,” Trump said.

When pressed specifically on how his changes would affect his own income, Trump acknowledged that he would likely pay more in taxes.

“That’s right. That’s right. I’m OK with it. You’ve seen my statements, I do very well, I don’t mind paying some taxes. The middle class is getting clobbered in this country. You know the middle class built this country, not the hedge fund guys, but I know people in hedge funds that pay almost nothing and it’s ridiculous, OK?”

In terms of the nation’s debt ceiling, which will likely be debated on when Congress returns from vacation in September, Trump said Republicans should fight the Obama administration on raising the borrowing limit.

“I would say that it’s worth the fight, because honestly there’s so much fat in Washington, that if you had the right people in there you could cut it and there would be no problem,” Trump said.

Finally, when asked about his chances of winning the presidency, Trump admits that he thinks he has a better chance now than he did in the beginning of the summer.

“Let’s say maybe 25 or 30 percent. If you’re conservative, I’m conservative,” Trump said.

Sources: Bloomberg News, MSNBC / Photo Credit: Wikimedia Commons/Michael Vadon