Senator Bernie Sanders (I-Vt.) has expressed strong criticism of Donald Trump’s proposal to eliminate all income taxes, describing it as ‘insane economics’ that would disproportionately benefit the wealthy.
What Happened: On Wednesday, Sanders took to X to voice his disapproval of Trump’s tax plan. He argued that the proposal would harm the poorest members of society while further enriching the wealthiest individuals. Sanders also suggested that the plan’s popularity among billionaires was due to their potential financial gain.
Sanders shared a video of him appearing on NBC News in the post in which he said protecting American democracy and protecting a woman’s right to control her own body were enormously important to him. He pointed out that Trump thought climate change was a hoax is also of “enormous importance.”
Sanders said over the last 50 years there has been a “massive transfer of wealth from the bottom 90% to the top 1%.” He said “60% of our people are living paycheck-to-paycheck while the billionaire class has never had it so good, while Donald Trump wants to give even more tax breaks to billionaires.”
“This would be the biggest transfer of wealth in the history of this country. It would mean the billionaire class, the millionaires, no longer pay a nickel in taxes.”
He contrasted it by saying that under Trump’s proposals if someone went to the grocery store or if they went to buy a refrigerator and if you’re a working-class person the prices are going to soar.
“The idea that you eliminate all taxes and replace them by a tariff is insane economics,” said Sanders.
Furthermore, Sanders has previously expressed his views on the need for better healthcare, expanded Social Security, and a higher minimum wage. He has accused Trump of prioritizing tax breaks for billionaires over these issues.
The 2024 presidential election is expected to be a close race between Trump and Harris, with prediction markets currently favoring Trump.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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