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Shot: Universal Healthcare:
I've been telling conservatives and telling conservatives, this guy Donald Trump is no conservative. You'd think when he said single payer health care worked great in other countries, that would have been a clue.
Now he's told Scott Pelley on 60 Minutes his health care plan.
It's universal health care. Who's gonna pay for it?
The alleged conservative Donald Trumps says very simply, "The government."
Chaser: Tax The Rich:
Republican presidential candidate Donald Trump unveiled an ambitious tax plan Monday that he says would eliminate income taxes for millions of households, lower the tax rate on all businesses to 15% and change tax treatment of companies' overseas earnings.
Under the Trump plan, no federal income tax would be levied against individuals earning less than $25,000 and married couples earning less than $50,000. The Trump campaign estimates that would reduce taxes to zero for 31 million households that currently pay at least some income tax. The highest individual income-tax rate would be 25%, compared with the current 39.6% rate.
To pay for the proposed tax benefits, the Trump plan would eliminate or reduce deductions and loopholes to high-income taxpayers, and would curb some deductions and other breaks for middle-class taxpayers by capping the level of individual deductions, a politically dicey proposition. Mr. Trump also would end the "carried interest" tax break, which allows many investment-fund managers to pay lower taxes on much of their compensation.
A significant revenue gain would come from a one-time tax on overseas profits that could encourage U.S. multinational corporations to return an estimated $2.1 trillion in cash now sitting offshore, largely to avoid U.S. taxes. His proposal would impose a mandatory 10% tax on all of that money, even if the money stays overseas, but allow a few years for the tax to be paid.
Mr. Trump also would impose an immediate tax on overseas earnings of American corporations; currently, such tax payments can be deferred.
So in 5 words Donald Trump exposes himself as a progressive Democrat's dream candidate — Universal Healthcare; Tax The Rich.
As in, free stuff via wealth transfer, with class envy and corporation-bashing thrown in.
My flirtation with Trump's candidacy is officially over. Not that it ever really was a "thing," but I was willing to listen to what he had to say and hoped he'd trade the bombast for seriousness. Bucking the GOP establishment is always good, because, hey, they deserve all the brickbats he can hurl. But echoing Bernie Sanders is clearly a dealbreaker.
You'd think a guy who is so successful in business would understand that putting the government in charge of anything is a recipe for disaster. The right way to replace Obamacare is with a truly free market health care system, one that lets consumers shop around for the best deals on insurance and provider services. Give the power to the people, not the bureaucrats!
As for exempting even more Americans from paying any income tax? The less said about that, the better. Folks who don't pay taxes don't have any incentive to care whether or not tax dollars are spent wisely. Which means they vote for the guy who says he'll spend the most on them. But, no matter what Trump or Bernie say, soaking the rich won't affect "income inequality" one bit.
So Mr. Trump, I now have two words for you. And those two words are:
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