“This is the most important economic issue of the moment. It’s a matter of success or failure. If we don’t fix these tax cuts, renew them and expand them, we will face economic calamity. We will see a gigantic tax increase for the middle class. » Among Donald Trump’s candidates for important positions within his next administration, Scott Bessent is supposed to be one of the most reassuring.
And yet, the probable future Secretary of the Treasury made the remarks cited at the start of this post this Thursday during his hearing before a Senate committee. This multi-billionaire from the world of business and finance said that failure to renew tax cuts that benefit the richest Americans and corporations would cause economic calamity. Nothing less.
“Can’t we find a better idea in the halls than cutting taxes on the richest and hoping that trickles down to everyone else? asked Colorado Democratic Senator Michael Bennett, making no secret of his skepticism about the trickle-down theory defended by Bessent.
“I respectfully disagree with much of your categorization…” Bessent said.
And when independent Vermont Sen. Bernie Sanders asked Bessent whether it was time to raise the federal minimum wage by $7.25 an hour, he said no.
(Photo AFP/Getty Images)
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