Donald Trump on Budget & Economy

2000 Reform Primary Challenger for President

Prepare for upcoming crash, bigger than 1929

I hope Iím wrong, but I think we may be facing an economic crash like weíve never seen before -probably sooner rather than later. The next president could be in office for a stock market crash worse than the one in 1929. Iím not saying this crash will ruin us, but we have to anticipate it and know how to rebound. Right now Iím not seeing the leadership weíre going to need.
Source: The America We Deserve, by Donald Trump, p. 26 , Jul 2, 2000

Optimistic about future of Atlantic City

A fact thatís gotten lost in all of the adverse publicity I encountered in 1990 is that, on the whole, my Atlantic City ventures have been extremely successful. Despite those tough times, I remain extremely optimistic about Atlantic City, and Iíll tell you why. If the town can draw tens of millions of people and generate many billion in revenues and tax dollars at a time when there is so much about the area that seems designed to keep people out, think of what will happen when improvements are made. Itís easy for people whoíve never been there to forget that crowds of people continue to pour in, by bus, by car, by helicopter, from almost everywhere east of the Mississippi.

The maddening thing is that thereís really no excuse for the way the town has developed. Atlantic City represents a unique situation; it is like no other town in America. In most places youíll find ideas but not enough money to carry them out. In Atlantic City there is plenty of money, but there are almost no ideas.

Source: Surviving at the Top, p.164-66 , Jul 2, 1990

Rent control only benefits a privileged minority

At 100 Central Park South, many tenants were fighting to protect the ultimate in New York real estate: beautiful apartments with great views-at an unbeatable location. Most important, with rent control and rent stabilization, they were enjoying one of the great windfall subsidies in the free world.

Rent control is a disaster for all but the privileged minority who are protected by it. As much as any other single factor, rent control is responsible for the desperate housing crisis that has plagued NYC for the past 20 years. Like a lot of failed government programs, rent control grew out of a decent idea that ended up achieving exactly the opposite of its intended effect.

Unlike most developers, I donít advocate eliminating rent control. I just think there ought to be a means test for anyone living in a rent-controlled apartment. People with incomes above a certain sum would be given a choice between paying a proportionally higher rent for their apartment or moving somewhere else.

Source: The Art of the Deal, by Donald Trump, p.167-69 , Jul 2, 1987

One-time 14.25% tax on wealth, to erase national debt

Trump wants to soak the rich, including himself. He proposed a 14.25% tax yesterday on the net worth of wealthy Americans.
Source: (X-ref Tax Reform) Boston Globe, p. A19 , Nov 10, 1999

Predicts 35% boost to economy from eliminating national debt

Financial analysts said that Trumpís proposed tax on assets over $10 million could be a financial disaster, pricking the stock market bubble or risking capital flight out of the country. Trump dismissed the doom-and-gloom scenarios. ďIt would not be a shock to the system,Ē he said, predicting a 35% boost in economic activity after he eliminates the debt, cuts income taxes and erases the inheritance tax.
Source: Boston Globe, p. A19 , Nov 10, 1999

Other candidates on Budget & Economy: Donald Trump on other issues:
Pres.Barack Obama
V.P.Joe Biden
GOP Candidates:
Rep.Newt Gingrich(GA)
Rep.Ron Paul(TX)
Gov.Mitt Romney(MA)
Third Party Candidates:
Rep.Virgil Goode(C)
Gov.Gary Johnson(L)
Gov.Buddy Roemer(AE)
Jill Stein(G)
C.G.David Walker(AE)

GOP Withdrawals:
Rep.Michele Bachmann(MN)
Herman Cain(GA)
Gov.Chris Cristie(NJ)
Gov.Mike Huckabee(AR)
Gov.Jon Huntsman(UT)
Rep.Thaddeus McCotter(MI)
Gov.Sarah Palin(AK)
Gov.Tim Pawlenty(MN)
Gov.Rick Perry(TX)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Civil Rights
Foreign Policy
Free Trade
Govt. Reform
Gun Control
Health Care
Homeland Security
Social Security
Tax Reform

Page last updated: May 31, 2012