Treasury Secretary Calls U.S. Socialism Supporters “Underachievers”

Treasury Secretary Scott Bessent, speaking to Fox Business host Larry Kudlow at the Group of 20 finance ministers’ summit in Asheville, N.C., described U.S. supporters of socialism as “underachievers” who are “jealous” of those who work every day. He framed the demographic as “over-educated and under-earning” and linked the criticism to a broader Republican effort to label progressive Democrats as communists.

The Hill

Bessent’s remarks came amid a summer in which several democratic socialist candidates, including Darializa Avila Chevalier, Claire Valdezin New Yorkand, and Melat Kirosin Colorado, won House primaries. These candidates have emphasized cost-of-living concerns and have called for an end to U.S. military funding for Israel. Republican leaders such as President Donald Trump and Speaker Mike Johnson (R-La.) have repeatedly attacked left-leaning Democrats, reinforcing the partisan framing of socialism.

The Hill

An August CBS News/YouGov survey found that 9 percent of respondents hold a “very positive view” of socialism, while 26 percent are “somewhat positive.” By contrast, 46 percent view capitalism positively, 33 percent hold a negative view, and 20 percent have no opinion. Among Democrats, nearly 60 percent expressed a favorable view of socialism, compared with only 14 percent of Republicans.

The Hill

He suggested that the appeal of socialism stems from demographic frustration rather than substantive policy support. No immediate response from the identified socialist candidates or Democratic leaders was reported in the source material.

The Hill

• “When you talk about socialism here in the U.S., and when you look at the demographic of those voters, they are over-educated and under-earning,” — Scott Bessent, treasury secretary

The Hill