President Trump accused Democratic presidential challenger Joe Biden Tuesday of embracing socialist policies to placate Sen. Bernie Sanders and other prominent progressive voices within his party ahead of the 2020 election.
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Trump warned that recent stock market gains would be in jeopardy if Biden and running mate Sen. Kamala Harris, D-Calif., win the Oval Office in November. Citing Sanders’ speech on the first night of the Democratic National Convention, the president warned that Biden's platform has been brought “so far left."
“Socialism is the mainstream of the Biden campaign and it’s not the mainstream of America,” Trump told supporters at a campaign event in Yuma, Ariz.
The Nasdaq composite and S&P 500 touched record highs Tuesday as the U.S. stock market bounces back from the coronavirus pandemic. The S&P 500 climbed 0.23 percent to close at 3,389.78, surpassing a previous record high achieved in February.
Trump’s remarks came hours after Sanders spoke in support of Biden.
“Many of the ideas we fought for, that just a few years ago were considered ‘radical,’ are now mainstream,” Sanders said during his DNC speech. “But, let us be clear, if Donald Trump is re-elected, all the progress we have made will be in jeopardy.”
Speaking at an event focused on immigration policy, Trump said “Biden’s campaign has turned into a cult for open borders and other zealots.
“By the way, they want to double and triple your taxes,” Trump said. “They want to increase regulations. They want to spend very little money on our vets after we took care of our vets better than anyone. They want to spend much less on our military.”
Trump said his administration will “lower your taxes further” and continue sweeping cuts to regulations if he is re-elected.
“We gave you the biggest tax decrease in the history of our country,” Trump said. “We decreased your taxes more than anyone has ever done and we’re doing more because that’s going to spell growth. Companies are moving in like nobody has seen before.”
Trump spoke ahead of the second night of the Democratic National Convention. Scheduled speakers include former President Bill Clinton.