Continue Reading Below
Continue Reading BelowAdvertisement
Barrack said one of the most important subjects to focus on is getting Americans back to work.
“The average guy can no longer exist with the status quo,” he said. “And the rich have gotten richer and the poor have gotten poorer. And we’ve evaporated the middle class.”
The billionaire investor believes “we’re all prisoners within the tax code” and that more wealthy Americans would contribute more in federal taxes if they knew where the money was going.
“We have $19 trillion in debt, Bretton Woods has done away with the gold standard, there’s nothing to support it. The only way out of debt is if you default, you grow out of it or you restructure it and in the meantime I’m paying for wars I don’t want to be in, my kids can’t go to public school, I have to use emergency rooms for healthcare and I have a Social Security system that’s bankrupt. So it’s not about the people, it’s about the system,” Barrack said.
He added: “And to have a warrior come from the outside like Donald say, ‘I’m just going to chip away at it. So you can say I’m not equipped because I haven’t been there on things like tax policy'—he will find the best-of-class people who are not of the system, but can infiltrate the system.”