COOPER: Did you use that $916 million loss to avoid paying personal federal income taxes for years?
TRUMP: Of course I do. Of course I do. And so do all of her donors, or most of her donors. … I pay tremendous numbers of taxes. I absolutely used it. And so did Warren Buffett and so did George Soros and so did many of the other people that Hillary is getting money from.
Anderson Cooper and Donald J Trump, Second Presidential Debate, October 9, 2016
Guess who doesn’t need a tax cut?
And me neither. I said already I that don’t need one. Now I’ve said it publicly by signing a protest letter to Congress at United for a Fair Economy’s Responsible Wealth Project, “a network of business leaders, investors, and inheritors in the richest 5% of wealth and/or income in the U.S. who believe that growing inequality is not in their best interest, nor in the best interest of society. ” Some excerpts:
“Tax reform should be, at a minimum, revenue neutral—without using gimmicks like dynamic scoring.”
“The Republican tax plan would disproportionately benefit wealthy individuals and corporations with provisions including repealing the estate tax, repealing the Alternative Minimum Tax, and slashing the top pass-through tax rate. This proposal would mean wealthy people could pay a lower tax rate than many middle-class families and transfer massive inheritances to their heirs tax-free. ”
¨…[W]e call on Congress to raise our taxes to bring in additional much-needed revenue and to restore investments to vital services. Doing so will help create jobs, strengthen the middle class, and ensure America’s economic success. Under no circumstance should tax reform lose revenue, especially to provide tax cuts to the wealthy and corporations.”
If your household income is over $300,000 a year, you’re in the top 5% of earners. If you have more than a million dollars in assets, you’re in the top 5% of net worth. Many, many UUs fit these metrics. Even if you don’t, you can still add your support. Go do it. Put your mouth where your money is.