REMINDER: Every 2024 Republican Embraces Trump’s MAGAnomics Tax Giveaways for the Rich at Expense of Working Families

Ahead of the anniversary of Donald Trump’s MAGAnomics tax giveaways for the ultra-wealthy, which he signed into law six years ago this Friday, DNC National Press Secretary Sarafina Chitika released the following statement: 

“For three years, President Biden has been cleaning up Donald Trump’s messes, including his disastrous tax scam that lined the pockets of his rich friends, rigged the economy for big corporations, shipped American jobs overseas, and ballooned the national debt. Six years after Trump signed into law this enormous gift for the ultra-wealthy and giant corporations, he and every other Republican presidential candidate are on the campaign trail threatening to do it again if they get the chance. Voters rejected this trickle-down scam in 2020 and turned out in record numbers to elect Joe Biden, the most pro-worker and pro-union president in American history. The choice next November couldn’t be more clear: While Donald Trump prioritizes the ultra-wealthy, President Biden is boosting the middle class, and creating jobs here at home: investing in an American manufacturing renaissance, overseeing the creation of 14 million jobs to date, and kickstarting the fastest creation rate of Black-owned small businesses in a generation.”

Trump has recently doubled down on his promise to make permanent and extend his disastrous MAGAnomics tax giveaways for the ultra-wealthy.

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

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

Trump: “We will replace Biden’s tax hikes with the beautiful Trump tax cuts. You know, we have to extend the tax cuts.”

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

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.”

Bloomberg: “[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.”

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

It’s not just Trump: The rest of the 2024 Republican field has lined up to support making permanent Trump’s MAGAnomics tax cuts that rigged the economy for the ultra-wealthy and big corporations. 

Haley on tax rates for the ultra-wealthy: “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.”

DeSantis on whether he’d keep Trump’s tax rates in place: “The current rates that are due to expire, we want to keep those rates in place.”

Bloomberg: “DeSantis voted in the US House in favor of the 2017 Trump tax cuts. He has proposed extending the lower individual tax rates before they expire in 2025.”

Ramaswamy on a suggestion to make permanent or expand the Trump tax cuts: “I’d go a little further, Larry, than that, to be honest with you.”

Christie: “First of all, we need to extend the Trump tax cuts. I think those need to be extended.”

Bloomberg: “Christie said he would extend the Trump tax cuts if elected.”

Trump’s MAGAnomics tax scam was a boon for corporations and the ultra-wealthy that left the middle class behind.

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

The Guardian: “They were billed as a ‘middle-class miracle’ but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”

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”

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.”