Trickle-down did not work. It got us into the mess we were in, in 2008 and 2009. Slashing taxes on the wealthy hasn’t worked. And a lot of really smart, wealthy people know that. And they are saying, hey, we need to do more to make the contributions we should be making to rebuild the middle class.
Many of you are well enough off that... the tax cuts may have helped you... We're saying that for America to get back on track, we're probably going to cut that short and not give it to you. We're going to take things away from you on behalf of the common good.
I believe capital gains, for the most part, should be taxed the same way we tax income from hard work, sweat, and toil. And if we do those things, we can be a country that actually can afford debt-free college again.
I think it's important to look at what we need to do to get the economy going again. That's why I said new jobs with rising incomes, investments, not in more tax cuts that would add $5 trillion to the debt.
It just seems to me that this is something that the American people deserve to see. And I have no reason to believe that [Donald Trump] is ever going to release his tax returns, because there's something he's hiding.
While Donald Trump was busy with his accountants trying to figure out how to keep living like a billionaire, and all the while he was using his political connections to collect hundreds of millions of dollars in government subsidies and extra tax breaks for his companies. In other words, Trump was taking from America with both hands, and leaving the rest of us with the bill.
Donald Trump would send us back into recession with his tax plans that benefit the wealthiest of Americans.
It's dark and it's divisive - deporting 11 million people, talking about law and order, calling every group of people in America names, talking about cutting taxes on the wealthy, feeling like Donald Trump can bring more nuclear weapons into the world - I mean, everything he's talked about is a form of change.
The 1984 tax trials, when he appealed his New York state and New York City audits, were about Donald Trump claiming zero revenue for his consulting business and taking over $600,000 of deductions, for which he couldn't produce any documentation, no receipts, no checks, nothing, those two elements, zero income and huge deductions, combined with his own tax guy testifying under oath, that's my signature, but I didn't prepare that tax return, those are very strong badges of fraud.
I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we had a hearing in which Alan Greenspan came and justified increasing spending and cutting taxes, saying that we didn't really need to pay down the debt - outrageous in my view.
What I have proposed would be paid for by raising taxes on the wealthy, because they have made all the gains in the economy.
We need to have a tax system that rewards work and not just financial transactions.
A Wall Street money manager should not be able to pay a lower tax rate than a teacher or a nurse.
Donald Trump would end up raising taxes on middle-class families.
I believe American corporations that have gotten so much from our country should be just as patriotic in return. Many of them are, but too many aren't. It's wrong to take tax breaks with one hand and give out pink slips with the other. And I believe Wall Street can never, ever be allowed to wreck Main Street again.
Seen in the context of Donald Trump having committed sales tax fraud in the past, which is indisputable, I think that it's reasonable for the American public to ask, did you go beyond what's lawful, maybe scandalously lawful, but lawful, and violate the law?
I'm not going to tell people that I will raise your incomes and not your taxes, and not mean it, because I don't want to see the kind of struggle that the middle class is going through exemplified by these promises that would raise taxes and make it much more difficult for many, many Americans to get ahead and stay ahead. That is not my agenda.
The kind of plan that Donald [Tramp] has put forth would be trickle-down economics all over again. In fact, it would be the most extreme version, the biggest tax cuts for the top percent of the people in this country than we've ever had.
Our largest companies should not be able to get away with paying hardly anything at all. It is insulting when they engage in these games like moving their headquarters over to a foreign country, on paper, not in reality, just to take advantage of lower tax breaks.
I will not raise taxes on anyone making $250,000 or less.
Maybe Donald Trump doesn't want the American people to know that he's paid nothing in federal taxes, because the only years that anybody's ever seen were a couple of years when he had to turn them over to state authorities when he was trying to get a casino license, and they showed he didn't pay any federal income tax.
Donald Trump participated in something known as the empty box scam. He bought $65,000 worth of jewelry from Bulgari across the street from Trump Tower, and had the record show that it was mailed to him in an out-of-state address. Now, if you're not a New York resident, you may not have to pay sales tax if the jewelry is mailed to you in another state. The problem is, they were empty boxes. It was proven.
Look at what I am proposing, and we [wih Bernie Sanders] have a vigorous agreement here. We both want to reign in the excesses of Wall Street. I also want to reign in the excesses of Johnson Controls that we bailed out when they were an autoparts company, and we saved the auto industry, and now they want to avoid paying taxes.
For 40 years, everyone running for president has released their tax returns. You can go and see nearly, I think, 39, 40 years of our tax returns, but everyone has done it.
Let's stop for a second and remember where we were eight years ago [in 2008]. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.
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