🚨 Scott Bessent: Trump’s Tax Handouts for the Ultra-Wealthy Are “Single Most Important Economic Issue” Arrow

In response to Trump's treasury secretary nominee Scott Bessent doubling down on Trump's tax handouts to the ultra-wealthy, DNC Rapid Response Director Alex Floyd released the following statement:

"Donald Trump and Scott Bessent don't care about helping the middle class - just helping themselves to another round of tax handouts paid for by working families. Instead of focusing on lowering costs or continuing the economic progress made under the Biden-Harris administration, Trump's billionaire Treasury pick is telling us point blank his 'single most important economic issue' is tax giveaways for himself and the rest of Trump's billionaire Cabinet."

NEW: Treasury secretary nominee Scott Bessent doubled down on Donald Trump's agenda to give tax handouts to the ultra-wealthy, calling it the "single most important economic issue" - and admitted that he's perfectly fine with treating wealth differently than wages paid to working families.

Scott Bessent: "This is the single most important economic issue of the day. This is pass/fail. If we do not fix these tax cuts, if we do not renew and extend, then we will be facing an economic calamity."

…

Sen. Ron Wyden: "Do you believe the tax code should treat wages differently than it treats wealth?"

Bessent: *struggles to answer coherently* … "It is a decision that was made when the tax codes were written so …"

Wyden: "It sounds to me like you do believe that it's fine to treat wealth more favorably. I couldn't disagree more. The idea that a dollar earned by a hedge fund manager has more value than a dollar earned by a teacher or a factory worker, I just think it's a disconnect with the American people."

Trump is doubling down on his failed MAGAnomics agenda that puts billionaires and big corporations ahead of hardworking Americans.

Trump: "You're all people that have a lot of money. … You're rich as hell. … We're gonna give you tax cuts."

Trump: "I will never let the Trump tax cuts … I will never let them be taken away."

Trump on whether his second term tax policies would echo those of his first term: "Yes, and I'd do even more taxes."

Vanity Fair: "Donald Trump Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term"

Washington Post: "The former president's closest economic advisers are plotting an aggressive new set of tax cuts to push on the campaign trail and from the Oval Office if he wins a second term. Trump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law … Trump's advisers, though, have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to as low as 15 percent, or to use the revenue from the proposed tariffs to pay a dividend to U.S. households. Further cutting corporate taxes … would primarily benefit large firms."

REMINDER: Trump's tax scam gave massive handouts to the ultra-wealthy at the expense of working families and created new incentives for companies to ship jobs overseas.

Forbes: "Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018"

Washington Post: "For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year"

CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"

Washington Post Analysis: "One of President Donald Trump's lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he's inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump's time in office. …

"The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center."

Washington Post: "Trump promised 'America First' would keep jobs here. But the tax plan might push them overseas."

Trump owns the worst jobs record in modern American history.

Fortune: "Trump to leave office with the worst jobs record since Herbert Hoover"

Washington Post: "President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative."

Bloomberg: "Trump's Jobs Record Fell Short of Promises Even Before the Virus"

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