Senator Bernie Sanders (I-Vt.) has launched a blistering attack on Donald Trump’s proposal to eliminate all income taxes, branding it as ‘insane economics’ that would exacerbate wealth inequality and harm the most vulnerable Americans.
Taking to X (formerly Twitter) on Wednesday, Sanders declared that Trump’s tax plan would primarily benefit the ultra-wealthy while further impoverishing those already struggling. He underscored his belief that billionaires are enthusiastically supporting Trump’s campaign due to the potential for immense financial gain under such a policy.
In a video shared on his X platform, Sanders emphasized that while he prioritizes safeguarding American democracy and women’s reproductive rights, Trump’s dismissal of climate change as a hoax also holds ‘enormous importance.’ He lamented the widening gap between the rich and poor, stating that over the past five decades, there has been a ‘massive transfer of wealth from the bottom 90% to the top 1%.’ He pointed out that while 60% of Americans are living paycheck to paycheck, the billionaire class is flourishing, and Trump is seeking to further enrich them through tax breaks.
Sanders argued that Trump’s plan would represent the biggest transfer of wealth in American history, effectively eliminating all taxes for the wealthy. He warned that working-class individuals would bear the brunt of the burden, facing skyrocketing prices for essential goods like groceries and appliances.
‘The idea that you eliminate all taxes and replace them by a tariff is insane economics,’ Sanders stated unequivocally.
Sanders’ criticism aligns with his previous pronouncements on Trump’s policies, emphasizing the need for social programs such as Medicare for All, expanded Social Security, and a higher minimum wage. He has repeatedly accused Trump of prioritizing tax breaks for the ultra-wealthy over the needs of ordinary Americans.
The 2024 presidential election is shaping up to be a close race between Trump and Vice President Kamala Harris, with prediction markets currently favoring Trump. Both candidates have proposed ambitious tax and spending plans, raising concerns about the potential impact on the national debt.
