Bill Weld on Tax Reform
Libertarian Party nominee for Vice Pres.; former GOP MA Governor; 2020 GOP Presidential Challenger
Bill Weld: First of all, as governor, I never met a tax cut I didn't like. I cut taxes 21 times and I never raised them--so I'm not going to criticize a tax cut, although obviously it could have been more equitable. But this this president is not a fiscal conservative. He's gone along with his trillion dollar deficits every year. I was ranked the most fiscally conservative governor in the United States. And I was governor of Massachusetts after three terms of Michael Dukakis. So that took some doing. But no, we simply can't sit still for this guy who's a disgrace to the office almost every day
But we also need to restructure our entire tax system. We don't need to choose between Robin Hood-style confiscatory taxation and deficit-creating tax cuts for the super-rich. We should instead take a good long look at some other models, such as a 19% flat tax on income, and the famous "post card" tax return. I have read extensively on the subject, and I believe the savings from the dramatic simplification of the Internal Revenue Code and the whole process of taxation would be enormous.
DONALD TRUMP: So ridiculous. I have a great balance sheet. When I did the old post office on Pennsylvania Avenue, the United States government because of my balance sheet, which they actually know very well, chose me to do the old post office between the White House and Congress.
Q [to WELD]: You successfully brought taxes down as governor of Massachusetts. Whose tax plan makes more sense to you?
BILL WELD: Advantage Trump on tax plans, though his is not detailed.
Q: What does it mean to you that Mr. Trump has not released his tax returns?
BILL WELD: Yes, of course he should make his tax returns public. (Two years of mine will be out next week).
JOHNSON: Imagine life in this country without the IRS. Greatly simplified. The more money you make, the more things you consume.
WELD: You know, I don't think you have to go so far as to abolishing the IRS. I think if you give the people the sense that taxes are only going to go down--they may not go down a lot, but they're not going to go up. And that's something both Gary and I did. He cut taxes 14 times, never raised them. I cut taxes 21 times, never raised them. The result was, in my case that when I took office, it was a recession, 1991. We had the highest unemployment rate of all 11 industrialized states. At the end of my first term, we had the lowest because businesses have the confidence to build that plant next door. So, you know, in terms of industrial policy, in my case, biotech, telecom, software: We grew those industries in Massachusetts by paying attention to them. And the same could happen at the federal level.
Kerry disputed Weld's claims and said Democrats were "the ones that created 10 million jobs." Kerry said, "The tax cuts [Weld] proposed went to business or the wealthy."
Weld urged voters to look at the overall records of each candidate. "I've cut taxes for six years in a row," said Weld. "I'm 6-for-6. [Kerry is] 0-for-12."
Kerry painted a markedly different picture of Weld's tax policy, saying his opponent has helped mostly large businesses and the rich. "Republican tax cuts go to wealthy people," Kerry said. "I want you to get the tax cuts."
He was scathing in his indictment of the Democrats who ran the State Senate and House of Representatives. "The Legislature," he said, "has proven itself incapable of restructuring state government."
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2020 Presidential Democratic Primary Candidates:
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
Sen.Elizabeth Warren (D-MA)
2020 GOP and Independent Candidates:
Rep.Justin Amash (Libertarian-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (Green-NY)
V.P.Mike Pence (R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump (R-NY)
V.C.Arvin Vohra (Libertarian-MD)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld (L-NY,R-MA)
External Links about Bill Weld:
2020 Withdrawn Democratic Candidates:
State Rep.Stacey Abrams (D-GA)
Sen.Michael Bennet (D-CO)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Mayor Bill de Blasio (D-NYC)
Rep.John Delaney (D-MD)
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)
CEO Tom Steyer (D-CA)
Rep.Eric Swalwell (D-CA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)