{"id":1028642,"date":"2023-12-19T16:07:26","date_gmt":"2023-12-19T16:07:26","guid":{"rendered":"https:\/\/democrats.org\/?p=1028642"},"modified":"2024-05-23T19:57:54","modified_gmt":"2024-05-23T19:57:54","slug":"reminder-trumps-maganomics-tax-scam-incentivized-companies-to-ship-jobs-overseas","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/reminder-trumps-maganomics-tax-scam-incentivized-companies-to-ship-jobs-overseas\/","title":{"rendered":"REMINDER: Trump\u2019s MAGAnomics Tax Scam Incentivized Companies to Ship Jobs Overseas"},"content":{"rendered":"\n
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Ahead of the anniversary of Donald Trump\u2019s MAGAnomics tax giveaways for the ultra-wealthy, which he signed into law six years ago this Friday, <\/em>DNC National Press Secretary Sarafina Chitika released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump\u2019s \u2018America First\u2019 agenda was a lie, unless you\u2019re one of the few billionaires who could take advantage of his trickle-down, tax cuts for the rich scam or a corporate CEO itching to abandon American workers. For the rest of us, Trump put America last \u2013 leaving office with the worst jobs record since Herbert Hoover and signing into law disastrous incentives to ship thousands of American jobs overseas. Trump abandoned working families, and that\u2019s why they abandoned him at the polls in 2020, choosing instead to elect President Biden, who has delivered on his promises to invest in American manufacturing and create millions of jobs for American workers while setting records for economic growth. Next November, voters will remember who is on their side.\u201d <\/p>\n\n\n\n

Trump\u2019s MAGAnomics tax scam created new incentives for companies to ship jobs overseas and he left American workers behind.<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/p>\n\n\n\n

Reuters<\/a>: \u201cHow offshoring rolled along under Trump, who vowed to stop it\u201d<\/p>\n\n\n\n

\u201cDonald Trump won the U.S. presidency four years ago, in part, by a promise to Midwest factory workers that he would stop companies like Schneider Electric SE from moving jobs out of the country. He didn\u2019t stop them.\u201d<\/p>\n\n\n\n

The Guardian<\/a>: \u201c’He pulled the wool over our eyes’: workers blame Trump for moving jobs overseas\u201d<\/p>\n\n\n\n

\u201cPromises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump\u2019s 2016 campaign. But since Trump took office in January 2017, nearly 200,000 jobs have been moved overseas, based on Trade Adjustment Assistance certified petitions.\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/p>\n\n\n\n

ITEP<\/a>: \u201cThe Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.\u201d<\/p>\n\n\n\n

Trump\u2019s MAGAnomics tax scam was a boon for corporations and the ultra-wealthy at the expense of the middle class.<\/strong><\/p>\n\n\n\n

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

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

Trump also left office with the worst jobs numbers of any president since the Great Depression.<\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/p>\n\n\n\n

Washington Post<\/a>: \u201cPresident Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.\u201d<\/p>\n\n\n\n

Trump and every other 2024 Republican have vowed to make permanent and extend Trump\u2019s disastrous MAGAnomics tax giveaways for the ultra-wealthy and big corporations.<\/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 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

Haley<\/strong><\/a>:<\/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

Ramaswamy<\/strong><\/a> on a suggestion to make permanent or expand the Trump tax cuts: \u201cI\u2019d go a little further, Larry, than that, to be honest with you.\u201d<\/p>\n\n\n\n

Christie<\/strong><\/a>: \u201cFirst of all, we need to extend the Trump tax cuts. I think those need to be extended.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cChristie<\/strong> said he would extend the Trump tax cuts if elected.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Ahead of the anniversary of Donald Trump\u2019s 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:  \u201cDonald Trump\u2019s \u2018America First\u2019 agenda was a lie, unless you\u2019re one of the few billionaires who could take advantage of his trickle-down, […]<\/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-1028642","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nREMINDER: Trump\u2019s MAGAnomics Tax Scam Incentivized Companies to Ship Jobs Overseas - 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\/reminder-trumps-maganomics-tax-scam-incentivized-companies-to-ship-jobs-overseas\/\" \/>\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=\"2023-12-19T16:07:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-23T19:57:54+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=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/reminder-trumps-maganomics-tax-scam-incentivized-companies-to-ship-jobs-overseas\/\",\"url\":\"https:\/\/democrats.org\/news\/reminder-trumps-maganomics-tax-scam-incentivized-companies-to-ship-jobs-overseas\/\",\"name\":\"REMINDER: Trump\u2019s MAGAnomics Tax Scam Incentivized Companies to Ship Jobs Overseas - 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