08/29/2024 | Press release | Distributed by Public on 08/29/2024 13:57
Today, as Donald Trump prepares for a rally in Potterville, Michigan, he will undoubtedly double down on his failed, anti-union economic policies that let down Michigan's working families in his first term with his even more extreme Project 2025 agenda.
A reminder: Trump's Project 2025 agenda would raise taxes on Michigan families by thousands of dollars a year and supercharge inflation - all while giving his ultra-wealthy friends additional handouts. Trump has repeatedly put working and middle-class Michiganders last, and he'll only prioritize himself and his own interests if he reaches the White House.
"Donald Trump has never prioritized the needs of everyday Michiganders, and his catastrophic Project 2025 economic agenda proves that he'll only get worse in a second term. Not only does he want to double down on his tax scam that padded the pockets of his ultra-wealthy friends and big corporations, but he'll go even further to increase working families' taxes by thousands of dollars a year," said DNC Spokesperson Stephanie Justice. "Michiganders have had enough of Trump's self-serving agenda that left them behind and left their state with fewer jobs than when he took office, and they know that Vice President Kamala Harris and Governor Tim Walz are the only candidates in this race fighting to strengthen the middle class, lower costs, and bolster Michigan's renowned manufacturing economy. Voters across Michigan will reject Trump in November because they deserve real leaders in the White House who will fight for their families."
A new study shows that if Trump forces his Project 2025 agenda on the country, typical Michigan families could see tax increases of nearly $4,000 a year.
USA Today: "We are going to have 10% to 20% tariffs on foreign countries that have been ripping us off for years, we are gonna charge them 10% to 20% to come in and take advantage of our country because that is what they have been doing," he said in the rally."
Center for American Progress: "A typical family would, therefore, pay between $2,500 to $3,900 from Trump's import taxes, depending on the precise tax rate between 10 percent and 20 percent that various countries' goods could be taxed at."
Trump's tax scam - which he wants to extend if given a second term - gave the richest 1 percent of Michiganders massive tax giveaways while leaving crumbs for working families.
CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"
The Guardian: "They were billed as a 'middle-class miracle' but according to a new book Donald Trump's $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history."
Forbes: "Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018"
Economic Policy Institute: "The TCJA overwhelmingly benefited the rich and corporations while overlooking working families"
ProPublica: "In the first year after Trump signed the legislation, just 82 ultra-wealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows."
Now, Trump wants to enact his extreme Project 2025 agenda that would rig the economy for the ultra-wealthy (again) and risk supercharging inflation.
Trump: "You're all people that have a lot of money… You're rich as hell.… We're gonna give you tax cuts."
Vanity Fair: "Donald Trump Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report"
Axios: "Sixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November."
The Atlantic: "Trump's Plan to Supercharge Inflation"
Trump created new incentivizes for companies to ship jobs overseas and offshoring increased on his watch despite his broken promises to workers.
Bloomberg: "The Offshoring of U.S. Jobs Increased on Trump's Watch"
Reuters: "How offshoring rolled along under Trump, who vowed to stop it"
"Donald 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't stop them."
The Guardian: "'He pulled the wool over our eyes': workers blame Trump for moving jobs overseas"
"Promises to save US manufacturing and prevent American jobs moving abroad were a key part of Donald Trump's 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."