Trump's Treasury pick rejects minimum wage hike, champions tax breaks

[LetMyPeopleVote]

Scott Bessent summarized the incoming administration’s perspective perfectly: Yes to tax breaks for the wealthy, no to increasing the minimum wage.
https://bsky.app/profile/stevebenen.com/post/3lfwxhpz3xs2b

Team Trump is offering positions, tax breaks, and perks to billionaires. But if you're working for the federal minimum wage and waiting for a raise, Team Trump has a different kind message for you:

Link to tweet

https://www.msnbc.com/rachel-maddow-show/maddowblog/trumps-treasury-pick-rejects-minimum-wage-hike-champions-tax-breaks-rcna188120

Perhaps Scott Bessent, the president-elect’s choice for Treasury secretary, could offer some greater clarity on the matter? As NBC News noted, independent Sen. Bernie Sanders of Vermont pressed the prospective nominee on the issue during his confirmation hearing.

During an exchange with Sanders, Bessent said that the issue of the minimum wage is ‘more of a statewide and regional issue.’ Sanders then asked if the federal minimum wage should be increased from $7.25 and Bessent said it shouldn’t be. The last time the federal minimum wage increased was in 2009, after a 2007 measure phased in minimum wage increases over the next two years. According to the Department of Labor, that’s the longest stretch in U.S. history that the federal minimum wage has remained stagnant since the Federal Labor Standards Act established the minimum wage in 1938.

In other words, those hoping for an increase to the federal minimum wage apparently should expect to wait until 2029 — at the earliest.

But as notable as the exchange between Sanders and Bessent was, just as important was the would-be Cabinet secretary’s comments on tax policy. CNBC reported:

In an exchange with Democratic Sen. Raphael Warnock of Georgia, Bessent repeatedly declined to say that he would be willing to raise taxes on America’s highest earners. He reiterated his support for extending the Tax Cuts and Jobs Act from Trump’s first term. ‘There’s no income level that I don’t think we should continue with the TCJA as it was,’ Bessent said.

The Washington Post published a much-discussed report the day after Christmas that highlighted the perspectives of several low-income voters who supported the Trump ticket in the 2024 elections. The article specifically referenced a middle-aged Pennsylvania woman who struggles to make ends meet despite receiving food stamps and Social Security benefits, who explained why she voted for the Republican ticket.....

The Republican team apparently also intends to keep ignoring calls for a minimum wage hike.

Those waiting for Trump and his incoming administration to champion those struggling the most will likely be waiting a long while.

[Fla Dem]

1. Corrupt, corrupt, corrupt and only for themselves. Race to see who can be the richest billionaire,