Donald Trump defended his new tax plan and called it a “rocket ship for the economy” Tuesday on NBC’s “Today Show.” (RELATED: Donald Trump Releases Populist-Sounding Tax Reform Plan)
Trump insisted that that his tax plan will bring in “at least $2.5 trillion that’s stuck outside of this country,” thus “the economy is going to expand tremendously, like it hasn’t since Reagan.”
Matt Lauer: Let me ask you this. So you’re cutting the rate for millions of Americans and will close some loopholes and get rid of some deductions, though I think you still need to be more specific about that area, but critics, I’m going with the critics, yes, there are positive reviews, but critics say you’re also shrinking the tax base, the number of people paying taxes, and that’s why you can’t pay for this.
Donald Trump: Well, no, they are wrong because we’re bringing in at least $2.5 trillion that’s stuck outside of this country. $2.5 trillion and the number could be much, much higher and companies can’t get that money brought back into this country. Just one of many things, and that money now will be able to flow back in under my plan. That money will be able to flow back into the country. We’re going to be reducing corporate taxes. Jobs will be created. The economy is going to expand tremendously, like it hasn’t since Reagan but probably even before that. This will be a rocket ship for the economy. Right now we have almost 100 million people that are out of work. They are out of work, whether we like it or not, they are out of work. We need jobs.
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