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The King of the Tax Code: Trump Set to Raise Taxes on Hedge Fund Managers

© REUTERS / Rick WilkingRepublican presidential candidate Donald Trump talks to reporters as he arrives in Laredo, Texas July 23, 2015
Republican presidential candidate Donald Trump talks to reporters as he arrives in Laredo, Texas July 23, 2015 - Sputnik International
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Donald Trump, the American real estate billionaire and 2016 presidential hopeful, will present his view on tax system reform next month, but he's already revealed some of his plan's finer details.

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Trump called himself the "king of the tax code" during a phone-in interview with the Morning Joe show on MSNBC-TV on Friday.

While boasting that he probably knows all the US hedge funders, Trump assumed they have been supporting both Jeb Bush and Hillary Clinton in the ongoing election campaign "because they wanna keep it going the same way," referring to the lower taxes this small, but exceptionally rich group of taxpayers enjoy.

"These guys, they don't really build anything, they shuffle papers, they go back and forth, they live beautifully," the billionaire said, describing his acquaintances' lives.

Commenting on the changes he wants to introduce to US taxation, Donald Trump declared that he is going to simplify the tax code, and get rid of some "ridiculous" deductions. Moreover, Trump said that hedge fund managers must pay more than they currently contribute.

"I have friends that laugh about how little they pay. And it's not fair to the middle class," the presidential hopeful argued. "… So I will have a plan… hedge fund guys won't be happy," he added.

Trump said he will come up with the plan over the next four weeks.

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Donald Trump's soaring ratings among the presidential candidates have put to shame sceptics who believed that the billionaire's participation in the 2016 elections was a phenomenon similar to some kind of a TV reality show. The key reason for Trump's success is that the real-estate mogul has managed to draw in broad masses of US voters, Nikita Zagladin, a professor with the Center for Comparative Socio-Economic and Socio-Political Studies in Moscow told Radio Sputnik.

"He speaks from the position of ordinary Americans, and people love it," Zagladin said.

Trump has garnered popular support by criticizing controversial initiatives such as the creation of free trade zones and government policies to support big businesses rather than take care of ordinary Americans, according to US publicist Matt Purple.

A fresh Public Policy Polling survey revealed that Donald Trump now has the support of more than one third of Republican voters, with five times the support of Jeb Bush or Scott Walker.

The New Hampshire primary will be held on February 6 and will be the first full-scale primary vote in the 2016 presidential election campaign. It is always closely scrutinized and often sets decisive patterns for voting in other north-eastern and major industrial states.

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