Do 2024 Republicans Support Donald Trump’s Tax Scam and Giveaways for the Ultra-Wealthy?
September 12, 2023
As Donald Trump is promising to bring back MAGA economic control with more tax giveaways for the ultra-wealthy, here’s a reminder that his GOP primary opponents are all on his side — 2024 Republicans have repeatedly praised Trump’s tax scam and vowed to make its windfalls for the ultra-wealthy permanent — all at the expense of America’s middle class.
Donald Trump is proposing expanding his extremely unpopular tax scam that benefits the ultra-rich and big corporations and would add to the deficit in the process.
Washington Post: “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, which would primarily benefit large firms, would contrast with the GOP’s increasing antagonism against publicly traded companies that many Republicans accuse of siding with liberals on cultural issues.”
Bloomberg: “The ex-president intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.”
2024 GOP candidates are all fervent supporters of the Trump tax scam, and most have explicitly embraced the idea of making its windfalls for the ultra-wealthy permanent.
Trump on whether his second-term tax policies would echo those of his first term: “Yeah, and I’d do even more taxes.”
DeSantis: “The current rates that are due to expire, we want to keep those rates in place.”
Brian Sullivan: “You’d keep those cuts going?”
DeSantis: “Yeah, we don’t want to see increases in taxes.”
Scott: “That 2017 tax reform bill, I was one of the four key authors of that bill. I’m excited about continuing to extend and making permanent those tax cuts.”
Haley: “Well, I think what I’d like to see is us go back to what Trump had under the tax cuts under him … I was there.”
Pence: “We got to make the Trump-Pence tax cuts permanent. That’s got to happen in 2025.”
Christie: “First of all, we need to extend the Trump tax cuts. I think those need to be extended.”
Ramaswamy on making permanent or expanding the Trump tax cuts: “I’d go a little further, Larry, than that, to be honest with you.”
Burgum in 2018: “I believe in these economic policies, I believe the tax bill is a great thing.”
Hutchinson in 2018: “President Trump’s #SOTU speech was good news for Arkansas as conservative policy changes in D.C. have led to tax cuts.”
Trump’s tax scam was a boon for corporations and the ultra-wealthy at the expense of the middle class.
Forbes: “Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018”
Economic Policy Institute: “The TCJA overwhelmingly benefited the rich and corporations while overlooking working families”
Bloomberg: “And while some corporations managed to pay $0 under the new tax law, it was unclear what kind of financial blow that would deal to the U.S. But according to recently released data from the IRS, in 2018 – the first year that the TCJA was in effect – the Treasury Department collected $91 billion less than it did in 2017.”
ProPublica: “In the first year after Trump signed the legislation, just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.”