The estate taxes, on balance, are good. They get people to give money to charity, and they prevent these family dynasties which keep other people from having opportunities. It may be good for a family, but for society it's probably not good. And I've always been in favor of having an estate tax.
Michael BloombergWe've continued progress in the six months since Trump got elected, and the good thing about what we're doing is that success begets success. As we bring down greenhouse gases, for example, we've closed half of the coal-fired power plants in the country in recent years. There's more impetus to try to close the other half because you can see that it is working. So, you know, I had hoped that Trump would not do that, and it doesn't make any sense to me, but regardless, it is not as cataclysmic as it could be.
Michael BloombergNow, you might say โ โBut why should we pay people for doing what theyโre supposed to do?โ Itโs a fair question โ but think of it this way: Every other anti-poverty program thatโs been tried has failed to get the national poverty rate below 11 percent... Why shouldnโt we experiment with a program built around the one strategy that has proven time and again to work wonders โ capitalism?
Michael BloombergYou have to take away some of tax breaks for the wealthy, and you have to cut back on some entitlements. Because, unless we do all of these things, it just doesn't work. And what's good theater and what's good politics isn't necessarily good economic policy.
Michael Bloomberg