Bloomberg's $5 trillion tax plan would cut out Trump tax breaks

Tuesday, 04 Feb, 2020

Bloomberg, a late entry to the Democratic competition to take on Republican President Donald Trump in November, has pledged not to take any donations and finance his campaign by dipping into his estimated $60 billion U.S. fortune.

"Just as the Super Bowl crowns the greatest football team, nothing says "winning" like President Donald Trump and his stellar record of accomplishment for all Americans", said Brad Parscale, Trump 2020 campaign manager, in a statement.

In 2014, Bloomberg pledged $50 million to Everytown, an umbrella organization for his two other gun control groups - Mayors Against Illegal Guns and Moms Demand Action for Gun Sense in America - in an effort to make the political climate more supportive of gun control.

The President then took aim at Bloomberg's stature once again during an interview with Sean Hannity on Fox's Super Bowl pre-game programming scheduled to air Sunday, the New York Post reports.

Bloomberg advised reporters in Los Angeles he would "stand twice as tall as he does on the stage that issues" and stated Trump "is aware of that I can beat him".

There is evidence his spending onslaught is working. "The Democratic Party should be doing everything possible to ensure a diverse field of candidates". "All the ingredients are in place but whether that can actually be baked into something real is unknown".

Now, presidential hopefuls want exclusively to achieve 10% in 4 polls, hit 12% in two polls in SC and Nevada, or obtain not less than one delegate in both Iowa or New Hampshire. It's why many people will be paying attention to what happens.

The plan, which was described by The New York Times to be "less aggressive than those from his most liberal rivals for the Democratic presidential nomination", is expected to raise a total of $5 trillion over a decade, which will be used to fund Bloomberg's array of proposed initiatives, including his healthcare, housing, education, and infrastructure plans. "He is running on a bet that Biden won't make it through and he becomes the big alternative to Sanders". Bloomberg News, the outlet owned by Bloomberg, quoted Sen.

Other candidates, such as Senator Cory Booker (D- New Jersey) and former Obama housing secretary Julian Castro, have dropped out of the race in recent months after failing to qualify for debates. "And I think I have good answers to the kind of questions that reporters would ask you, and some cute remarks for those that come from the other candidates". In Texas, volunteers have held more than 560 events for Sanders, while the candidate himself has visited four times this primary season.

"The DNC, changing its debate criteria to ignore grassroots donations, appears to be tailored to get Mike Bloomberg into the February debate phase. I'm going to take my message directly to the voters". "And I'd like to go to every one of the states", he told Reuters.