{"id":1029252,"date":"2024-01-12T21:35:53","date_gmt":"2024-01-12T21:35:53","guid":{"rendered":"https:\/\/democrats.org\/?p=1029252"},"modified":"2024-05-14T18:17:40","modified_gmt":"2024-05-14T18:17:40","slug":"behind-closed-doors-donald-trump-and-the-2024-republican-field-put-the-ultra-wealthy-and-big-corporations-over-middle-class-families","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/behind-closed-doors-donald-trump-and-the-2024-republican-field-put-the-ultra-wealthy-and-big-corporations-over-middle-class-families\/","title":{"rendered":"BEHIND CLOSED DOORS: Donald Trump and the 2024 Republican Field Put the Ultra-Wealthy and Big Corporations Over Middle-Class Families"},"content":{"rendered":"\n
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In response to <\/em>new reporting<\/em><\/a> exposing Donald Trump\u2019s desire to give more tax giveaways to the ultra-wealthy at the expense of America\u2019s middle class, <\/em>DNC National Press Secretary Sarafina Chitika released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cYou don\u2019t have to be \u2018behind closed doors\u2019 to know that the same guy rooting for the economy to crash doesn\u2019t really care about tax relief for working families. Donald Trump and the rest of the 2024 field are running on the same failed playbook of Trump\u2019s tax scam 2.0: promises to rig the economy for the richest Americans by gifting more tax breaks to the ultra-wealthy. Last time around, Trump\u2019s tax scam lined the pockets of his rich friends, incentivized companies to ship American jobs overseas, and ballooned the national debt. Now, MAGA Republicans are telling their wealthy, corporate backers they\u2019re ready to do it all over again. While Republicans fight over who can suck up the most to the ultra-rich, President Biden is laser-focused on boosting the middle class and creating jobs here at home \u2013 not kickbacks for the wealthy to send jobs overseas.\u201d<\/p>\n\n\n\n

NEW: Donald Trump is dead set on bringing back his unpopular and failed MAGAnomics agenda that benefited the wealthiest Americans at the expense of the middle class.<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cBehind closed doors, Trump eyes second round of corporate tax cuts\u201d<\/p>\n\n\n\n

\u201cPrivately, Trump has told allies that he is keenly interested in cutting corporate tax rates again <\/strong>\u2026 Three of Trump\u2019s senior economic policy advisers also said privately that they see the corporate tax cut as an enormous success and believe it should be expanded in a second term.\u201d<\/p>\n\n\n\n

\u201cTrump\u2019s 2017 tax law cut the corporate rate from 35 percent to 21 percent, though Trump at the time wanted to lower it to 15 percent. \u2026 Asked by NBC about if he would cut the corporate tax rate to 15 percent, Trump said that he would \u2018like to lower them a little bit if we could.\u2019\u201d<\/strong><\/p>\n\n\n\n

\u201cNonpartisan estimates have found that Trump\u2019s tax cut added more than $2 trillion to the federal debt. In 2018, the richest 20 percent of taxpayers saw an average of $7,600 in savings from the 2017 tax law, compared with just $930 in savings for middle-income households, according to the Tax Policy Center, a nonpartisan think tank. Making the tax cuts permanent would cost $3 trillion, the center said in 2022. More than 60 percent of the benefits would go to the richest 20 percent of Americans, and more than 40 percent of the benefits to those earning above $400,000 annually.\u201d<\/strong><\/p>\n\n\n\n

Trump has repeatedly doubled down on his promise to make permanent and extend his disastrous MAGAnomics tax giveaways for the ultra-wealthy.<\/strong><\/p>\n\n\n\n

Trump<\/strong><\/a>: \u201cI will never let the Trump tax cuts \u2026 I will never let them be taken away.\u201d<\/p>\n\n\n\n

Trump<\/strong><\/a>: \u201cYou\u2019re all people that have a lot of money \u2026 You\u2019re rich as hell. \u2026 We\u2019re gonna give you tax cuts.\u201d<\/p>\n\n\n\n

Trump<\/strong><\/a>: \u201cWe will replace Biden\u2019s tax hikes with the beautiful Trump tax cuts. You know, we have to extend the tax cuts.\u201d<\/p>\n\n\n\n

Trump<\/strong><\/a> on whether his second term tax policies would echo those of his first term: \u201cYes, and I\u2019d do even more taxes.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cThe former president\u2019s 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 <\/strong>\u2026 Trump\u2019s 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 \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Trump<\/strong>] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.\u201d<\/p>\n\n\n\n

Vanity Fair<\/a>: \u201cDonald Trump <\/strong>Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report\u201d<\/p>\n\n\n\n

Trump is also openly admitting that he wants the economy to crash so it would benefit him politically \u2014 with no regard for how it would hurt hardworking families. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cAnd when there\u2019s a crash \u2014 I hope it\u2019s going to be during this next 12 months because I don\u2019t want to be Herbert Hoover. The one president I just don\u2019t want to be, Herbert Hoover.\u201d<\/strong><\/p>\n\n\n\n

Business Insider<\/a>: \u201cTrump says he hopes the US economy will crash within the next year to avoid being a ‘Herbert Hoover’\u201d<\/p>\n\n\n\n

Daily Beast<\/a>: \u201cDonald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.\u201d<\/p>\n\n\n\n

Haley and DeSantis have supported and continue to campaign on extending Trump\u2019s tax giveaways for America’s wealthiest \u2013 and both have records of cutting taxes for the ultra-rich and big corporations as governors of their respective states. <\/strong><\/p>\n\n\n\n

Haley<\/strong><\/a> on tax rates for the ultra-wealthy: <\/strong>\u201cWell, I think what I\u2019d like to see is us go back to what Trump had under the tax cuts under him \u2026 I was there.\u201d<\/p>\n\n\n\n

DeSantis<\/strong><\/a> on whether he\u2019d keep Trump\u2019s tax rates in place: \u201cThe current rates that are due to expire, we want to keep those rates in place.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cDeSantis<\/strong> 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.\u201d<\/p>\n\n\n\n

Augusta Chronicle:<\/a> \u201cState budget advisers predict eliminating South Carolina\u2019s corporate income tax over four years, as both Haley<\/strong> and House Republicans propose, would reduce state revenues by $61.6 million in the first year and $218.3 million annually when the phase-out is complete. But the amount of money South Carolina collects from the tax has varied yearly – as low as $101.4 million in 2002-03 to a high of $268.6 million in 2007-08.\u201d<\/p>\n\n\n\n

Seeking Rents<\/a>: \u201cLast year, Florida Gov. Ron DeSantis<\/strong> and the Republican-controlled state Legislature teamed up to pass a pair of bills that made it easier for billionaires to hide their fortunes from the outside world \u2014 and from federal taxes.\u201d<\/p>\n\n\n\n

Orlando Sentinel<\/a>: \u201cThe package doesn\u2019t provide direct relief for the millions of Floridians who have seen their rent go up astronomically in recent years. Instead, it relies on a trickle-down approach by giving tax incentives to developers in exchange for lower-than-market-value rental rates on their projects. The proposal comes as Florida renters saw rates jump 21% from 2020 to 2021 and continue to rise through most of 2022.\u201d<\/p>\n\n\n\n

Miami Herald<\/a>: \u201cIt\u2019s unclear if any of the changes will lead to lower rates any time soon for Floridians, who are paying the highest homeowners insurance premiums in the nation. But hundreds of thousands of homeowners covered by state-run Citizens Property Insurance are almost guaranteed to end up paying more.\u201d<\/p>\n\n\n\n

REMINDER: Trump\u2019s 2017 MAGAnomics tax scam was a boon for corporations and the ultra-wealthy that left the middle class behind.<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cThey were billed as a \u2018middle-class miracle\u2019 but according to a new book Donald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n

Economic Policy Institute<\/a>: \u201cThe TCJA overwhelmingly benefited the rich and corporations while overlooking working families\u201d<\/p>\n\n\n\n

ProPublica<\/a>: \u201cIn 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to new reporting exposing Donald Trump\u2019s desire to give more tax giveaways to the ultra-wealthy at the expense of America\u2019s middle class, DNC National Press Secretary Sarafina Chitika released the following statement:  \u201cYou don\u2019t have to be \u2018behind closed doors\u2019 to know that the same guy rooting for the economy to crash doesn\u2019t […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1029252","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nBEHIND CLOSED DOORS: Donald Trump and the 2024 Republican Field Put the Ultra-Wealthy and Big Corporations Over Middle-Class Families - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/behind-closed-doors-donald-trump-and-the-2024-republican-field-put-the-ultra-wealthy-and-big-corporations-over-middle-class-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-12T21:35:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-14T18:17:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/behind-closed-doors-donald-trump-and-the-2024-republican-field-put-the-ultra-wealthy-and-big-corporations-over-middle-class-families\/\",\"url\":\"https:\/\/democrats.org\/news\/behind-closed-doors-donald-trump-and-the-2024-republican-field-put-the-ultra-wealthy-and-big-corporations-over-middle-class-families\/\",\"name\":\"BEHIND CLOSED DOORS: Donald Trump and the 2024 Republican Field Put the Ultra-Wealthy and Big Corporations Over Middle-Class Families - 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