'Too much wealth is in too few hands' — Michael Bloomberg slams Trump's tax cuts as a gift to the rich
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.President Donald Trump has broken his economic promises and enriched the wealthy at the expense of most Americans, Democratic presidential candidate Michael Bloomberg said"Too much wealth is in too few hands," the billionaire boss of Bloomberg LP and former New York City mayor said. "Nearly all the money goes to people like me, who don't need it.
Moreover, middle-class Americans are "being squeezed by higher prices on everything from health care to housing," Bloomberg said. Workers' share of national income compared to investors has also shrunk to a near-record low, he added. "Too much wealth is in too few hands," he argued. Trump's sweeping tax cut has only exacerbated the problem, he added, as "nearly all the money goes to people like me, who don't need it."as a way to tackle rising inequality.In his column, Bloomberg accused Trump of reneging on his promises to American workers.
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