Sen. Bernie Sanders (I-Vt.) took aim at President Donald Trump's economic agenda, arguing that the administration's spending priorities and benefit cuts are a raw deal for working-class Americans and a gift to the wealthy.

Sanders Lays Out the Numbers

In a post on X Tuesday, Sanders didn't mince words. He laid out what he calls "The Trump Agenda" with a list of stark figures: 4 million people losing nutrition assistance, 15 million losing healthcare, $1 trillion in tax cuts for the top 1%, $1.5 trillion for the Pentagon, and $2.2 billion going into Trump's own pocket.

His conclusion was blunt: "This is what a government by and for the billionaire class looks like. Obscene."

Democrats Pile On

Sanders isn't alone in this line of attack. Rep. Ro Khanna (D-Calif.), Sen. Elizabeth Warren (D-Mass.), and economist Justin Wolfers have all criticized Trump's economic policies, arguing that tariffs, tax cuts, and spending reductions have hit working families in the wallet while padding the pockets of the rich.

Khanna said Trump's policies have added $3,500 in annual expenses for families through higher food, gas, and healthcare costs. Warren argued that the "Big Beautiful Bill" shifts wealth toward the richest Americans by cutting safety-net programs. Wolfers pointed out that permanent tax cuts favor the wealthy, while tariffs and inflation disproportionately hurt lower-income households.

The Wealth Gap Keeps Widening

These criticisms come against a backdrop of growing inequality. A report from The Kobeissi Letter shows that U.S. wealth gains over the past five decades have heavily favored the ultra-rich. Since 1976, the top 0.001% has seen real wealth growth of about 3,500%, compared with just 200% for the average household.

The report notes that wealthy Americans have benefited from owning stocks, mutual funds, and private businesses, while the bottom 50% have struggled with debt.

Former White House communications director Anthony Scaramucci has warned that this widening inequality could fuel political and social backlash. He's urging the wealthy to pursue market-based solutions to reduce wealth concentration before the government steps in with more aggressive intervention.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.