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Trump's take on the 'Buffett Rule'

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  • Description

    The Donald reacts to president's comments

  • Duration 3:25
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Senate is set to vote this coming week on the so called Buffett rule that would require.

People making a million dollars or more year to pay higher taxes President Obama used his weekly address to push for the rule.

Right now we've got significant deficits to close.

We've got serious investments to make to keep our economy growing.

And we can't afford to keep spending more money on tax cuts for the wealthiest Americans who don't need them and didn't even ask for.

Meanwhile outspoken billionaire businessman.

Donald Trump who once considered a run for the White House itself has continued to be an outspoken voice of the GOP presidential campaign.

We sat down with the always candid New York entrepreneur -- to get -- take.

I -- Buffett rule and a 2012 race.

Let's talk from -- about the buzz.

Over the Buffett rule lots of news and generated from this given the fact the White House is saying that millionaires should be taxed at -- 30%.

Rate where they believe that this is all about fairness.

Is it fair.

Well I think when you look at fairness you have to look at the overall we are in a very weak economy we're a very fragile economy.

If you start increasing taxes right now you could have a total collapse it's very.

Scary when you think about the increasing of taxes.

As far as mr.

Buffett is concerned he talks -- but in the meantime.

He's being sued for hundreds of millions of dollars for taxes that he hasn't paid I think it related to -- -- a company that he's involved with.

And so he's being sued for not paying taxes or -- big tax dispute.

And then he talks about you know everybody should pay more taxes so maybe he should pay his -- -- taxes and leave it at that just.

-- and I can't tell you this about people who are making also over 200000 dollars which can.

Really affect small business owners would really as I mean most of what you're talking about a small business owners and these -- people that are not having an easy time anyway so.

When you start talking about increasing taxes in a bad economy.

In an economy where other countries are obsolete absolutely eating our lunch.

It really is a very dangerous thing the White House pretty much knows it.

May not go anywhere in have a -- with congress do you think they're doing this to really reignite the passions over -- class warfare.

Well I think it's a very dangerous thing for the president to be talking about tax increases cause ultimately he's tech talking about a tax increase for lots of people.

Millions of people.

And personally when you're running for office talking about a tax increases I think very dangerous but.

More importantly it's very dangerous of the economy.

Talking about the election on itself how do you think you're -- that -- -- -- you think for the most part if the economy stays on the track that is just me.

Won't have too much trouble.

Well I think -- fuel goes up higher I think give the economy doesn't get better.

I really believe that Mitt Romney will become -- next president I really think that he'll be helped because I I do see fuel going up.

I also see Obama making deals with the OPEC nations to try and fled the market because otherwise you won't be there to take care of them.

So that's a little bit of -- danger sign but I do see.

Without that I do see fuel going up and I see lots of bad things happening and if that happens I think the Republican candidate which will be Mitt Romney.

We'll run I think he's gonna run a great campaign and I think he'll be an ex president but also we want to -- his campaign some people predict.

This will be I believe the nastiest campaign --

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