January 25, 2019
President Donald Trump on Thursday suggested that Venezuela’s economic collapse was caused by policies similar to Rep. Alexandria Ocasio-Cortez’s (D., N.Y.) proposal to implement a top marginal tax rate of 70 percent on the wealthy.
Trump’s comment came in response to a reporter’s question about how closely he was following the political turmoil in Venezuala, where Juan Guaidó, the leader of the legislature, declared himself president in opposition to dictator Nicolás Maduro. On Thursday, Secretary of State Mike Pompeo declared Maduro an illegitimate leader.
“We’ve been looking at Venezuela. It’s a very sad situation,” Trump said. “That was the richest state in all of that area. That’s a big, beautiful area and by far the richest. And now it’s one of the poorest places in the world. That’s what socialism gets you, when they want to raise your taxes to 70 percent.”
Trump went on to say that the United States should learn a lesson from Venezuela and not make the same mistakes.
“You know, it’s interesting, I’ve been watching our future opponents talking about 70 percent. Number one, they can’t do it for 70 percent. It’s gotta be probably twice that number,” he said. “But, maybe more importantly, what happens is, you really have to study, to take a look at what’s happened to Venezuela. It is a very, very sad situation. So we have our eye very closely on Venezuela.”
This article was posted: Friday, January 25, 2019 at 7:27 am