{"id":1050967,"date":"2025-01-27T15:30:31","date_gmt":"2025-01-27T20:30:31","guid":{"rendered":"https:\/\/democrats.org\/?p=1050967"},"modified":"2025-01-27T15:30:32","modified_gmt":"2025-01-27T20:30:32","slug":"shot-chaser-trump-and-his-treasury-pick-confirm-inflation-isnt-his-no-1-issue-its-tax-handouts-for-billionaires","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/shot-chaser-trump-and-his-treasury-pick-confirm-inflation-isnt-his-no-1-issue-its-tax-handouts-for-billionaires\/","title":{"rendered":"SHOT\/CHASER: Trump And His Treasury Pick Confirm \u201cInflation Isn\u2019t His No. 1 Issue\u201d \u2014 It\u2019s Tax Handouts for Billionaires"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

As Donald Trump\u2019s Treasury pick Scott Bessent is set to come up for a confirmation vote today after claiming tax handouts for the ultra-wealthy are <\/em>\u201cthe single most important economic issue of the day,\u201d<\/em><\/a> new reporting is already making it clear that <\/em>\u201cinflation isn’t [Trump\u2019s] No. 1 issue.\u201d<\/em><\/a><\/p>\n\n\n\n

SHOT: Despite lying to the American people for months about plans to lower costs during the campaign, Trump has put inflation on the \u201c<\/strong>back burner<\/strong><\/a>\u201d in his first week on the job\u2026<\/strong><\/p>\n\n\n\n

ABC News<\/a>: \u201c[I]n Trump\u2019s first week back in the White House, there was little in his initial blitz of executive orders that directly tackled those prices,<\/strong> besides directing federal agencies to start \u2018pursuing appropriate actions.\u2019 \u2026 <\/p>\n\n\n\n

\u201c\u2018They all said inflation was the No. 1 issue. I said, \u201cI disagree,\u201d\u2019 Trump said. \u2018I talked about inflation too, but how many times can you say that an apple has doubled in cost?\u2019 <\/strong>\u2026 <\/strong><\/p>\n\n\n\n

\u201c[T]here is a risk that some of Trump\u2019s plans taken as a whole could raise \u2014 not reduce \u2014 prices.\u201d<\/strong><\/p>\n\n\n\n

CHASER: \u2026 and instead, Trump\u2019s Treasury pick Scott Bessent confirmed that giving the ultra-wealthy ANOTHER tax handout is \u201cthe single most important economic issue.\u201d <\/strong><\/p>\n\n\n\n

Scott Bessent<\/a>: \u201cThis is the single most important economic issue of the day. <\/strong>This is pass\/fail. If we do not fix these tax cuts, if we do not renew and extend, then we will be facing an economic calamity.\u201d<\/p>\n\n\n\n

Sen. Ron Wyden<\/a>: \u201cDo you believe the tax code should treat wages differently than it treats wealth?\u201d<\/p>\n\n\n\n

Bessent: *struggles to answer coherently* \u2026 \u201cIt is a decision that was made when the tax codes were written so \u2026\u201d <\/p>\n\n\n\n

Sen. Wyden: \u201cIt sounds to me like you do believe that it\u2019s fine to treat wealth more favorably. I couldn\u2019t disagree more. The idea that a dollar earned by a hedge fund manager has more value than a dollar earned by a teacher or a factory worker, I just think it\u2019s a disconnect with the American people.\u201d<\/strong><\/p>\n\n\n\n

Sen. Raphael Warnock<\/a>: \u201cWhat about [those making more than] $1 billion?\u201d<\/strong><\/p>\n\n\n\n

Bessent: \u201cSo again, that I think that these are the job creators.\u201d<\/p>\n\n\n\n

Sen. Warnock: \u201cSo there\u2019s no income level for which you would support raising taxes? <\/strong>Is that fair?\u201d<\/p>\n\n\n\n

Bessent: \u201cThere is no income level <\/strong>\u2026\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

As Donald Trump\u2019s Treasury pick Scott Bessent is set to come up for a confirmation vote today after claiming tax handouts for the ultra-wealthy are \u201cthe single most important economic issue of the day,\u201d new reporting is already making it clear that \u201cinflation isn’t [Trump\u2019s] No. 1 issue.\u201d SHOT: Despite lying to the American people […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","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-1050967","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nSHOT\/CHASER: Trump And His Treasury Pick Confirm \u201cInflation Isn\u2019t His No. 1 Issue\u201d \u2014 It\u2019s Tax Handouts for Billionaires - 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\/shot-chaser-trump-and-his-treasury-pick-confirm-inflation-isnt-his-no-1-issue-its-tax-handouts-for-billionaires\/\" \/>\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=\"2025-01-27T20:30:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-27T20:30:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/shot-chaser-trump-and-his-treasury-pick-confirm-inflation-isnt-his-no-1-issue-its-tax-handouts-for-billionaires\/\",\"url\":\"https:\/\/democrats.org\/news\/shot-chaser-trump-and-his-treasury-pick-confirm-inflation-isnt-his-no-1-issue-its-tax-handouts-for-billionaires\/\",\"name\":\"SHOT\/CHASER: Trump And His Treasury Pick Confirm \u201cInflation Isn\u2019t His No. 1 Issue\u201d \u2014 It\u2019s Tax Handouts for Billionaires - 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