Trumps One Good Idea

[georgephillip]

Okay. The bad news is that Trump's One Good Idea comes from 1999"

"In 1999 Mr. Trump was running for president and broadcasting his ideas about the national debt. A November, 1999, article begins, 'Billionaire businessman Donald Trump has a plan to pay off the national debt, grant a middle class a tax cut, and keep Social Security afloat: tax rich people like himself. . . . By Trump's calculations, his proposed 14.25 percent levy on such net worth [on individuals with net worth over $10 million] would raise $5.7 trillion and wipe out the debt in one full swoop. . . . "Personally this plan would cost me hundreds of millions of dollars, but in all honesty, it's worth it," Trump said. '”

Needless to say, Donald's "one fell swoop" is not present in 2016?

Trump’s One Good Idea: Soak the Rich

 

[Iceweasel]

I won't work anymore. The debt has grown exponentially.

 

[georgephillip]

I won't work anymore. The debt has grown exponentially.

I think you're referring to the "miracle of compound interest":
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf
"Driven by the mathematics of compound interest – savings lent out to grow exponentially – the overgrowth of debt is at the root of today’s economic crisis.

"Creditors make money by leaving their savings to accrue interest, doubling and redoubling their claims on the economy.

"This dynamic draws more and more control over labor, land, industry and tax revenue into the hands of creditors, concentrating property ownership and government in their hands.

"The way societies have coped with this deepening indebtedness should be the starting point of financial theorizing."

This isn't anything new in economics; Aristotle wrote about it 3000 years ago when he described the "eternal political triangle" of democracy, oligarchy, and aristocracy.

 

[g5000]

Trump’s One Good Idea: Soak the Rich

Yes, it is like I keep saying: Trump was a far left liberal until five minutes ago. Trump's Chumps never catch on, though.

 

[Iceweasel]

Trump’s One Good Idea: Soak the Rich

Yes, it is like I keep saying: Trump was a far left liberal until five minutes ago. Trump's Chumps never catch on, though.

But you're being equally polemic. Trump is more of a Libertarian, I wouldn't call him a liberal. You can pick the social issues and make the case. I don't know anyone that thinks he's a hard core conservative, that's not the appeal.

 

[NightFox]

"Personally this plan would cost me hundreds of millions of dollars, but in all honesty, it's worth it," Trump said. '”

....and yet he forgot to send his check for "hundreds of millions of dollars" into the Treasury but isn't he magnanimous with OTHER PEOPLES MONEY, typical gub'mint worshiper making plans about how to spend the fruits of everybody else's labor.

 

[Iceweasel]

"Personally this plan would cost me hundreds of millions of dollars, but in all honesty, it's worth it," Trump said. '”

....and yet he forgot to send his check for "hundreds of millions of dollars" into the Treasury but isn't he magnanimous with OTHER PEOPLES MONEY, typical gub'mint worshiper making plans about how to spend the fruits of everybody else's labor.

Was the plan ever put in place? I don't think so. And you really think the rich dems want it?

 

[Remodeling Maidiac]

I won't work anymore. The debt has grown exponentially.

It wouldn't have worked then either. Having the debt essentially wiped out instantly only would have encouraged them to spend more. When you don't have to work to achieve something you have no appreciation for the results.

 

[NightFox]

"Personally this plan would cost me hundreds of millions of dollars, but in all honesty, it's worth it," Trump said. '”

....and yet he forgot to send his check for "hundreds of millions of dollars" into the Treasury but isn't he magnanimous with OTHER PEOPLES MONEY, typical gub'mint worshiper making plans about how to spend the fruits of everybody else's labor.

Was the plan ever put in place? I don't think so. And you really think the rich dems want it?

What difference does it make if the "plan" was ever put in place? If Trump was so sure it was the right thing to do and that it costing him "hundreds of millions of dollars" was "worth it" why didn't he just write a check and go about trying to convince people with a net worth of $10 million + that it was in their best interests to do the same? Instead in typical hypocrite fashion he just wags his tongue and continues right on using the existing rules to avoid every penny of taxes he can knowing full well that his proposed surtax would never be implemented.

 

[georgephillip]

"Personally this plan would cost me hundreds of millions of dollars, but in all honesty, it's worth it," Trump said. '”

....and yet he forgot to send his check for "hundreds of millions of dollars" into the Treasury but isn't he magnanimous with OTHER PEOPLES MONEY, typical gub'mint worshiper making plans about how to spend the fruits of everybody else's labor.

Full disclosure: I had forgotten that Trump ran for president in 1999. I doubt if he ever fully believed in this plan anymore than he was ever planning to move into the White House next January when he began his most recent campaign. I think he launched last year as a "protest candidate" never dreaming he would be the front runner today.

 

[Remodeling Maidiac]

If every American felt the pain of the debt it would be solved as an issue. Putting the crushing burden on only a very few people will only ensure that the problem is never truly solved.