Fox News host: “The vast majority of people who are going to be helped by the tax cuts are the wealthiest”
Harold Ford Jr: “The people that are going to benefit the most are not middle-class, working-class Americans, it’s going to be some people around this table”
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Citation
From the May 19, 2025, edition of Fox News' The Five
HAROLD FORD JR. (CO-HOST): Tax cuts -- as much as the president and Republicans want to say this tax bill extending things are going to help middle-class Americans, the vast majority of people who are going to be helped by the tax cuts are the wealthiest, because there's one other number. Over the last 12 years, the S&P has gone up almost 400%, and the only way to benefit from the stock market is if you have money invested in the stock market and you have to have a lot for that to benefit you.
So, I say to Democrats: you have to cut spending. I say to Republicans: stop kidding Americans that you're not raising -- that you're not cutting taxes for the richest Americans. Why not raise taxes on those earning two and half million or more to pay for these things? So, we may differ a little bit, but one thing we agree on, the debt is not going to go down because of this and the people that are going to benefit the most are not middle-class, working-class Americans, it's going to be some people around this table and people much richer than this.
GREG GUTFELD (CO-HOST): All right, Bernie Sanders.