Full Transcript: Donald Trump vs Hillary Clinton – Second Presidential Debate October 9, 2016

But, you know, let’s talk about what’s really going on here, Martha, because our intelligence community just came out and said in the last few days that the Kremlin, meaning Putin and the Russian government, are directing the attacks, the hacking on American accounts to influence our election. And WikiLeaks is part of that, as are other sites where the Russians hack information, we don’t even know if it’s accurate information, and then they put it out. We have never in the history of our country been in a situation where an adversary, a foreign power, is working so hard to influence the outcome of the election. And believe me, they’re not doing it to get me elected. They’re doing it to try to influence the election for Donald Trump.

Now, maybe because he has praised Putin, maybe because he says he agrees with a lot of what Putin wants to do, maybe because he wants to do business in Moscow, I don’t know the reasons. But we deserve answers. And we should demand that Donald release all of his tax returns so that people can see what are the entanglements and the financial relationships that he has…

Martha Raddatz: We’re going to get to that later. Secretary Clinton, you’re out of time.

Hillary Clinton: … with the Russians and other foreign powers.

Martha Raddatz: Mr. Trump?

Donald Trump: Well, I think I should respond, because — so ridiculous. Look, now she’s blaming — she got caught in a total lie. Her papers went out to all her friends at the banks, Goldman Sachs and everybody else, and she said things — WikiLeaks that just came out. And she lied. Now she’s blaming the lie on the late, great Abraham Lincoln. That’s one that I haven’t…

OK, Honest Abe, Honest Abe never lied. That’s the good thing. That’s the big difference between Abraham Lincoln and you. That’s a big, big difference. We’re talking about some difference.

But as far as other elements of what she was saying, I don’t know Putin. I think it would be great if we got along with Russia because we could fight ISIS together, as an example. But I don’t know Putin. But I notice, anytime anything wrong happens, they like to say the Russians are — she doesn’t know if it’s the Russians doing the hacking. Maybe there is no hacking. But they always blame Russia. And the reason they blame Russia because they think they’re trying to tarnish me with Russia. I know nothing about Russia. I know — I know about Russia, but I know nothing about the inner workings of Russia. I don’t deal there. I have no businesses there. I have no loans from Russia. I have a very, very great balance sheet, so great that when I did the Old Post Office on Pennsylvania Avenue, the United States government, because of my balance sheet, which they actually know very well, chose me to do the Old Post Office, between the White House and Congress, chose me to do the Old Post Office. One of the primary area things, in fact, perhaps the primary thing was balance sheet. But I have no loans with Russia. You could go to the United States government, and they would probably tell you that, because they know my sheet very well in order to get that development I had to have.

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Now, the taxes are a very simple thing. As soon as I have — first of all, I pay hundreds of millions of dollars in taxes. Many of her friends took bigger deductions. Warren Buffett took a massive deduction. Soros, who’s a friend of hers, took a massive deduction. Many of the people that are giving her all this money that she can do many more commercials than me gave her — took massive deductions. I pay hundreds of millions of dollars in taxes. But — but as soon as my routine audit is finished, I’ll release my returns. I’ll be very proud to. They’re actually quite great.

Martha Raddatz: Thank you, Mr. Trump.

Anderson Cooper: We want to turn, actually, to the topic of taxes. We have a question from Spencer Moss. Spencer?

Audience Question: Good evening. My question is, what specific tax provisions will you change to ensure the wealthiest Americans pay their fair share in taxes?

Anderson Cooper: Mr. Trump, you have two minutes.

Donald Trump: Well, one thing I’d do is get rid of carried interest. One of the greatest provisions for people like me, to be honest with you, I give up a lot when I run, because I knock out the tax code. And she could have done this years ago, by the way. She’s a United States — she was a United States senator. She complains that Donald Trump took advantage of the tax code. Well, why didn’t she change it? Why didn’t you change it when you were a senator? The reason you didn’t is that all your friends take the same advantage that I do. And I do. You have provisions in the tax code that, frankly, we could change. But you wouldn’t change it, because all of these people gave you the money so you can take negative ads on Donald Trump.

But — and I say that about a lot of things. You know, I’ve heard Hillary complaining about so many different things over the years. “I wish you would have done this.” But she’s been there for 30 years she’s been doing this stuff. She never changed. And she never will change. She never will change.

We’re getting rid of carried interest provisions. I’m lowering taxes actually, because I think it’s so important for corporations, because we have corporations leaving — massive corporations and little ones, little ones can’t form. We’re getting rid of regulations which goes hand in hand with the lowering of the taxes. But we’re bringing the tax rate down from 35% to 15%. We’re cutting taxes for the middle class. And I will tell you, we are cutting them big league for the middle class.

And I will tell you, Hillary Clinton is raising your taxes, folks. You can look at me. She’s raising your taxes really high. And what that’s going to do is a disaster for the country. But she is raising your taxes and I’m lowering your taxes. That in itself is a big difference. We are going to be thriving again. We have no growth in this country. There’s no growth. If China has a GDP of 7%, it’s like a national catastrophe. We’re down at 1%. And that’s, like, no growth. And we’re going lower, in my opinion. And a lot of it has to do with the fact that our taxes are so high, just about the highest in the world. And I’m bringing them down to one of the lower in the world. And I think it’s so important — one of the most important things we can do. But she is raising everybody’s taxes massively.

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Anderson Cooper: Secretary Clinton, you have two minutes. The question was, what specific tax provisions will you change to ensure the wealthiest Americans pay their fair share of taxes?

Hillary Clinton: Well, everything you’ve heard just now from Donald is not true. I’m sorry I have to keep saying this, but he lives in an alternative reality. And it is sort of amusing to hear somebody who hasn’t paid federal income taxes in maybe 20 years talking about what he’s going to do.

But I’ll tell you what he’s going to do. His plan will give the wealthy and corporations the biggest tax cuts they’ve ever had, more than the Bush tax cuts by at least a factor of two. Donald always takes care of Donald and people like Donald, and this would be a massive gift. And, indeed, the way that he talks about his tax cuts would end up raising taxes on middle-class families, millions of middle-class families.

Now, here’s what I want to do. I have said nobody who makes less than $250,000 a year — and that’s the vast majority of Americans as you know — will have their taxes raised, because I think we’ve got to go where the money is. And the money is with people who have taken advantage of every single break in the tax code.

And, yes, when I was a senator, I did vote to close corporate loopholes. I voted to close, I think, one of the loopholes he took advantage of when he claimed a billion-dollar loss that enabled him to avoid paying taxes. I want to have a tax on people who are making a million dollars. It’s called the Buffett rule. Yes, Warren Buffett is the one who’s gone out and said somebody like him should not be paying a lower tax rate than his secretary. I want to have a surcharge on incomes above $5 million. We have to make up for lost times, because I want to invest in you. I want to invest in hard-working families. And I think it’s been unfortunate, but it’s happened, that since the Great Recession, the gains have all gone to the top. And we need to reverse that. People like Donald, who paid zero in taxes, zero for our vets, zero for our military, zero for health and education, that is wrong.