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Bernie Sanders and Donald Trump clash on Twitter over tax reform laws

The President and the Senator tangle over taxes

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The Independent US
Bernie Sanders slammed Donald Trump's tax plan REUTERS/Kevin Lamarque

Even on Christmas, Bernie Sanders didn’t take a break from lashing Donald Trump over a massive new tax bill.

The President and his allies have characterised the sweeping overhaul as an economic rejuvenator, saying steep cuts in the corporate tax rate will invigorate the economy.

But Mr Sanders and other Democrats argue that it will starve the government of funding for needed programmes, a point the Vermont Senator elaborated upon in a tweet listing various initiatives the $1.5tn could pay for.

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Among the programmes Mr Sanders listed were repairing infrastructure — a goal Mr Trump has embraced but not yet acted upon — Mr Sanders’ cherished goal of providing tuition-free college and a children’s health insurance program whose funding expired months ago. 

Instead, Mr Sanders wrote, Republicans chose to “Give tax breaks to the wealthy and corporations”.

The former presidential candidate also hit out at a story reporting that Mr Trump had told wealthy guests at his Florida resort that “You all just got a lot richer”.

10 of the biggest tax havens in the world

10 of the biggest tax havens in the world

  • 1/10 Luxembourg

    There are an estimated £2.5 trillion shares of mutual funds registered in the Grand Duchy, £1 trillion of which cannot be traced to an owner

  • 2/10 Cayman Islands

    The Cayman Islands contain 6% of the world's total banking assets, but just 0.000008% of its population

  • 3/10 Isle of Man

    David Cameron has said the Isle of Man, where there is no corporation, capital gains or inheritance tax, should not be considered a tax haven

  • 4/10 Jersey

    There are over £3.5 billion assets per square mile on the self-governing Channel Island

  • 5/10 Ireland

    Ireland made headlines last year when it emerged Apple was registered in the country in order to dodge over £40bn in taxes

  • 6/10 Mauritius

    The Mauritian government notionally charges corporation tax, but companies can easily make this back through generous tax credits for foreign businesses

  • 7/10 Bermuda

    Google holds more than £30bn in offshore cash reserves, primarily via Bermuda

  • 8/10 Monaco

    A popular domicile for super-rich private individuals, Monaco has the most expensive property in the world. £1 million will buy just 225 square feet

  • 9/10 Switzerland

    Switzerland has such secretive banking laws that it took until the 1990s to secure the release of Nazi cash reserves

  • 10/10 Bahamas

    David Cameron's father ran an offshore fund which hired Bahamas residents to complete paperwork, thus dodging British tax bills

“At least Trump is finally telling the truth about his tax bill,” he wrote on Twitter.

For his part, the President spent the holiday weekend trumpeting the first major legislative accomplishment of his term. He noted that the tax bill also accomplished two other longstanding Republican goals: repealing the mandate for everyone to have health insurance and opening a protected area in Alaska up to oil exploration.

The day after Christmas, Mr Trump predicted the healthcare change would force Democrats to negotiate “a great new HealthCare plan” with Republicans.