In the latest Fiscal Fridays interview, Republican front-runner Donald Trump said that as president he would cut taxes on businesses and the middle class, maintain current Social Security and Medicare benefits, and yet still balance the federal budget in short order.
Trump said in the interview last week that he would rely heavily on stronger economic growth that he predicts will result from the proposed tax cuts and his efforts to “bring jobs back” from abroad.
Speaking mostly in general terms, Trump also promised to “freeze the budget” immediately while attacking waste, fraud and abuse.
The Fiscal Fridays series provides voters with in-depth information about presidential candidates’ fiscal and economic plans. First Budget — an initiative of The Concord Coalition and Fix the Debt — is one of the co-sponsors.
Trump vowed he would make no structural changes in Social Security and Medicare — despite warnings of insolvency from the programs’ trustees. Trump said the programs’ costs could be lowered through better management that would eliminate waste, fraud and abuse, but he did not offer any savings estimates.
Trump said his tax plan “is going to lower taxes, big league, for the middle class . . . It’s also going to lower taxes, big league, for corporations and for small companies, anybody doing business.”