Trump campaign vs. Trump administration: on Budget & Economy


Ben Carson: Release the economic engine; regulations fetter it down

We have to be fiscally responsible and simultaneously release the most powerful economic engine the world has ever known, rather than fettering it down with all kinds of regulations and requirements. We have the highest corporate tax rates in the developed world. So why are we surprised when companies want to go overseas? People do not go into business to support the government, they go into business to make money. A wise government creates an environment that is conducive to business, so that we draw businesses in instead of pushing them away. One of the things that led to the explosion of economic activity that took America in 1776 to the pinnacle of the economic world in less than 100 years was the fact that we had an environment conducive to innovation, hard work and entrepreneurship.
Source: WorldNetDaily OpEd by Carson, for 2016 Trump transition May 4, 2015

Donald Trump: 1999: one-time wealth tax on top 1% to reduce national debt

Sen. Elizabeth Warren wasn't the first major American politician to put the idea of a tax on large fortunes on the political agenda. Indeed, it's been kicking around in one form or another since the late 1990s, when an influential then-independent rolled out a proposal that he framed as a way to reduce the national debt while preserving the interests of the 99%.

Here's how the plan's architect described it: "By my calculations, 1 percent of Americans, who control 90% of the wealth in this country, would be affected by my plan. The other 99% of the people would get deep reductions in their federal income taxes."

His name? Donald Trump.

Trump's idea was that paying off the national debt would reduce federal interest rate costs, allowing for a middle-class tax cut. Instead, the debt volume has increased dramatically since 1999, but federal debt service payments as a share of GDP are actually lower than they were back then, since interest rates have fallen dramatically.

Source: Vox.com analysis of 2019 Trump Administration Jan 31, 2019

  • The above quotations are from Campaign promises compared to follow-up actions taken by the Trump Administration.
  • Click here for definitions & background information on Budget & Economy.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Donald Trump on Budget & Economy.
  • Click here for more quotes by Mike Pence on Budget & Economy.
2024 Presidential contenders on Budget & Economy:
  Candidates for President & Vice-President:
V.P.Kamala Harris (D-CA)
Robert F. Kennedy Jr.(I-CA)
Chase Oliver(L-GA)
Dr.Jill Stein(D-MA)
Former Pres.Donald Trump(R-FL)
Sen.J.D.Vance(R-OH)
Gov.Tim Walz(D-MN)
Dr.Cornel West(I-NJ)

2024 presidential primary contenders:
Pres.Joe_Biden(D-DE)
N.D.Gov.Doug Burgum(R)
N.J.Gov.Chris_Christie(R)
Fla.Gov.Ron_DeSantis(R)
S.C.Gov.Nikki_Haley(R)
Ark.Gov.Asa_Hutchinson(R)
Former V.P.Mike Pence(R-IN)
U.S.Rep.Dean_Phillips(D-MN)
Vivek_Ramaswamy(R-OH)
S.C.Sen.Tim_Scott(R)
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Nov 02, 2024