Former President Donald Trump said Tuesday that corporate executives and shareholder representatives should “stand with him 100 percent” or they will be fired.
“Corporate executives and shareholder representatives should support Donald Trump 100%! Those who don’t should be fired as incompetents!” the former president said in a post on his social media site Truth Social.
His post was a reference to a Wall Street Journal article published Monday that compared corporate tax rates under the Biden and Trump administrations. In another post, Trump cited the article, saying, “Corporations won tax cuts in Trump’s first term. If he’s re-elected, corporations will benefit.”
Spokespeople for Trump and the Biden campaign did not immediately respond to requests for comment Tuesday.
Trump tried to rally support among business leaders at a roundtable in Washington, D.C., last week, but several CEOs who attended told CNBC they were disappointed with his “rambling” policy proposals, with Trump offering few details about plans to cut corporate taxes or regulations, according to two people who attended.
During his campaign, Biden repeatedly pointed to Trump’s willingness to cut taxes on the wealthy.
“If Trump is elected, he will cut taxes for himself and his rich friends at the expense of working families. We can’t allow that.” Biden wrote to X last week.
Responding to Trump’s “Truth Social” post, Biden campaign spokesman James Singer said, “We know Donald likes to pretend to fire people on TV, but the American people have already fired him for the worst jobs record since Herbert Hoover. The choice in 2024 is between Joe Biden, who is cutting costs for working families, and Donald Trump, a white-collar con man who does nothing but hand out handouts to the rich at the expense of the middle class and put us back in the mess we started off in.”
Biden also stepped up efforts to end Trump’s tax cuts by previewing his vision for raising new revenue, including raising corporate taxes to 28% from 21% and imposing a 25% minimum income tax on billionaires, raising marginal tax rates on top earners to 39.6% from 37% and increasing capital gains taxes on the ultra-wealthy, in his latest budget proposal and in a memo released Thursday by Biden’s economic adviser, Lael Brainard.
