First 2016 Presidential Debate: on Tax Reform

Jill Stein: Rich should pay 55%-60% taxes, not 15% or 35%

Donald Trump: Under my plan I will be reducing taxes tremendously from 35 percent to 15 percent for companies, small and big businesses. That's going to be a job creator like we haven't seen since Ronald Reagan.

Jill Stein: America wasn't meant to be an aristocracy. 22 billionaires have as much money as 50 percent of the US population. We need a progressive income tax, with the rich paying at least at the 55 to 60 percent level.

Hillary Clinton: What I have proposed would be paid for by raising taxes on the wealthy because they have made all the gains in the economy. And I think it's time that the wealthy and corporations pay their fair share to support this country.

Source: Fox News 3rd-party coverage: First 2016 Presidential Debate Sep 27, 2016

Donald Trump: I'm gonna cut taxes and regulations big league

[Clinton is] going to approve one of the biggest tax increases in history. [Clinton is] going to drive business out. [Clinton's] regulations are a disaster, and [Clinton is] going to increase regulations all over the place. My tax cut is the biggest since Ronald Reagan. I'm very proud of it. It will create tremendous numbers of new jobs. But regulations, you are going to regulate these businesses out of existence. When I go around, despite the tax cut, the things that business as in people like the most is the fact that I'm cutting regulation. You have regulations on top of regulations, and new companies cannot form and old companies are going out of business. And you want to increase the regulations and make them even worse. I'm going to cut regulations. I'm going to cut taxes big league, and [Clinton is] going to raise taxes big league, end of story. Source: First 2016 Presidential Debate at Hofstra University Sep 26, 2016

Donald Trump: Tax cuts for the wealthy, who will create tremendous jobs

Q: You're calling for tax cuts for the wealthy?

A: I'm really calling for major jobs, because the wealthy are going create tremendous jobs. They're going to expand their companies. I'm getting rid of the carried interest provision. And if you really look, it's not a tax. It's really not a great thing for the wealthy. It's a great thing for the middle class. It's a great thing for companies to expand. And when these people are going to put billions and billions of dollars into companies, and when they're going to bring $2.5 trillion back from overseas, where they can't bring the money back, because politicians like Secretary Clinton won't allow them to bring the money back, because the taxes are so onerous, and the bureaucratic red tape is so bad. It's probably $5 trillion that we can't bring into our country. With a little leadership, you'd get it in here very quickly, and it could be put to use on the inner cities and lots of other things, and it would be beautiful.

Source: First 2016 Presidential Debate at Hofstra University Sep 26, 2016

Hillary Clinton: Trump loophole: $4B tax benefit for Trump family

TRUMP: The wealthy are going tocreate tremendous jobs. They're going to expand their companies. I'm getting rid of the carried interest provision. It's a great thing for companies to expand. And when these people are going to put billions and billions of dollars into companies, and when they're going to bring $2.5 trillion back from overseas, where they can't bring the money back, because politicians like Secretary Clinton won't allow them to bring the money back, because the taxes are so onerous.

CLINTON: I don't see changes in the corporate tax rates or the kinds of proposals [Trump was] referring to that would cause the repatriation, bringing back of money that's stranded overseas. I happen to support that. I happen to support that in a way that will actually work to our benefit. [Trump has] what is called now the Trump loophole, because it would so advantage you and the business you do. [He has] proposed an approach that has a $4 billion tax benefit for [his] family.

Source: First 2016 Presidential Debate at Hofstra University Sep 26, 2016

Hillary Clinton: Trickle-down hasn't worked; no slashing taxes on wealthy

When you look at what [Trump is] proposing, I call it "trumped-up trickle-down." 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. I don't think top-down works in America. I think building the middle class, investing in the middle class, making college debt-free so more young people can get their education, helping people refinance their debt from college at a lower rate. Those are the kinds of things that will really boost the economy. Broad-based, inclusive growth is what we need in America, not more advantages for people at the very top. Source: First 2016 Presidential Debate at Hofstra University Sep 26, 2016

The above quotations are from First Presidential Debate at Hofstra University, Sept. 26, 2016, moderated by Lester Holt of NBC News. Click here for definitions & background information on Tax Reform. Click here for other issues (main summary page). Click here for more quotes by Hillary Clinton on Tax Reform. Click here for more quotes by Donald Trump on Tax Reform.
*2020 Presidential contenders on Tax Reform:*
	*Democrats running for President:* Sen.Michael Bennet (D-CO) V.P.Joe Biden (D-DE) Mayor Mike Bloomberg (I-NYC) Gov.Steve Bullock (D-MT) Mayor Pete Buttigieg (D-IN) Sen.Cory Booker (D-NJ) Secy.Julian Castro (D-TX) Gov.Lincoln Chafee (L-RI) Rep.John Delaney (D-MD) Rep.Tulsi Gabbard (D-HI) Sen.Amy Klobuchar (D-MN) Gov.Deval Patrick (D-MA) Sen.Bernie Sanders (I-VT) CEO Tom Steyer (D-CA) Sen.Elizabeth Warren (D-MA) Marianne Williamson (D-CA) CEO Andrew Yang (D-NY) *2020 Third Party Candidates:* Rep.Justin Amash (L-MI) CEO Don Blankenship (C-WV) Gov.Lincoln Chafee (L-RI) Howie Hawkins (G-NY) ~~Gov.Gary Johnson~~(L-NM) ~~Howard Schultz~~(I-WA) Gov.Jesse Ventura (I-MN)	*Republicans running for President:* ~~Sen.Ted Cruz~~(R-TX) ~~Gov.Larry Hogan~~ (R-MD) ~~Gov.John Kasich~~(R-OH) V.P.Mike Pence(R-IN) ~~Gov.Mark Sanford~~ (R-SC) Pres.Donald Trump(R-NY) Rep.Joe Walsh (R-IL) Gov.Bill Weld(R-MA & L-NY) *2020 Withdrawn Democratic Candidates:* Sen.Stacey Abrams (D-GA) Mayor Bill de Blasio (D-NYC) Sen.Kirsten Gillibrand (D-NY) Sen.Mike Gravel (D-AK) Sen.Kamala Harris (D-CA) Gov.John Hickenlooper (D-CO) Gov.Jay Inslee (D-WA) Mayor Wayne Messam (D-FL) Rep.Seth Moulton (D-MA) Rep.Beto O`Rourke (D-TX) Rep.Tim Ryan (D-CA) Adm.Joe Sestak (D-PA) Rep.Eric Swalwell (D-CA)
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Page last updated: Nov 30, 2021