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Investor says Trump’s tax cuts ‘would’ve paid for themselves by 2022’, gives ‘last chance’ warning

September 13, 2024 | | Print Article

Key Square Group Founder Scott Bessent joined CNBC’s “Squawk Box” and dropped a truth bomb about the Trump tax cuts.

(Video Credit: CNBC)

While leftists lamented the tax cuts as former President Donald Trump’s gift to the top 1% of earners, Bessent, an investor, has a different view.

“Trump tax cuts, it’s — you go up before you come down – Trump tax cuts would have paid for themselves by 2022 because it’s a growth strategy. The reason I’ve come out from behind my desk for this election is because, you know, I — I think this is the last chance for America to grow its way out of this debt problem. If you can increase growth, you can change the trajectory and everything that I’m seeing from Harris-Biden is more taxes, more regulation, we go into a kind of a European-style malaise, the government spending gets to be a bigger and bigger percent of the economy,” Bessent said.

“Look I think we gotta get Americans back into the job market, and you do that with real wage increases, which we’ve seen negative real wage growth from households during Harris-Biden,” he added later.

X users weighed in on this prediction:

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