Donald Trump is earning praise from an unlikely trio of high-profile leaders for some of his proposals on taxes and the economy.
In the past several days, Sen. Elizabeth Warren (D-Massachusetts), Nobel prize-winning economist Paul Krugman, and legendary investor Warren Buffett have praised Trump on taxes and economics.
More specifically, the left-leaning trio has said they agree with Trump’s call to close the so-called “carried interest” tax loophole, which allows hedge-fund managers and other wealthier Americans to pay lower taxes on incomes through capital gains.
Though Trump has not released a plan detailing the specifics of his proposed tax reforms, he has suggested raising the capital-gains tax repeatedly, claiming that the profits that hedge fund managers make should be taxed like real income.
“They’re paying nothing, and it’s ridiculous. I want to save the middle class,” Trump told CBS’ John Dickerson in August. “The hedge-fund guys didn’t build this country. These are guys that shift paper around and they get lucky.”
“They’re making a tremendous amount of money – they have to pay taxes,” he added, saying hedge-fund managers are “getting away with murder.”
The message resonated with Warren, who praised Trump’s suggestion in an appearance on “The View” on Tuesday.
“Donald Trump and I both agree that there ought to be more taxation of the billionaires, the people who are making their money on Wall Street,” Warren said.
And in an interview with Bloomberg on Tuesday, Buffett, the Berkshire Hathaway CEO, also said that he agrees with Trump’s suggestions on tax policy.
“In terms of tax policy, I haven’t heard him say anything yet that I disagree with,” Buffett said.
- Mario Anzuoni/Reuters
Meanwhile, in an op-ed in The New York Times on Sunday, Krugman wrote that Trump is the only Republican running for president making a credible argument on tax reform, dinging former Florida Gov. Jeb Bush (R) in the process.
“For the issues the Bush campaign is using to attack its unexpected nemesis are precisely the issues on which Mr. Trump happens to be right, and the Republican establishment has been proved utterly wrong,” Krugman said.
A push to close the carried interest tax loophole, long a goal for Democrats, has been gaining steam on the right in recent months.
Bush, for example, unveiled his plan to reform the tax code on Wednesday. Though it includes plenty of cuts aimed at pleasing the Republican base and attempting to drive economic growth, Bush’s plan also proposes closing the carried-interest loophole.
Despite their support for Trump’s tax proposals, the three liberals made it clear they’re far from becoming supporters of Trump.
In his op-ed, Krugman said that Trump is “exactly the ignorant blowhard he seems to be.” Buffett, meanwhile, emphasized his support for Clinton in multiple interviews on Tuesday.
And Warren said that Trump’s controversial immigration plan to deport 11 million immigrants living in the US without permission should disqualify him from being president.
“You can’t be president of the United States if that’s your view of how we’re going to solve immigration reform,” Warren said.