Steve Forbes Backs Trump's Communism Warning, Urges New Tax Cuts for 2026

2 articles · Updated · Fox News · Jul 12

Steve Forbes said at Freedom Fest in Las Vegas that Trump was right to cast communism, socialism and extreme leftism as America’s top internal threat, echoing Lincoln’s warning that the country is most vulnerable from within.
The 78-year-old publisher argued public anger is being misdirected at capitalism when government mistakes are hurting opportunity, and said free enterprise must be defended as both more prosperous and more moral.
Forbes tied that case to economics, attacking the Federal Reserve’s view that strong growth can fuel inflation and calling interest-rate control a form of rent control rather than sound money policy.
His prescription for the Trump administration was a fresh round of individual and business tax cuts, continued deregulation and a voter-focused pitch built around untaxed overtime and tips.
The remarks also framed New York City’s socialist turn as a sign of dissatisfaction and stronger left-wing organization, which Forbes said free-market advocates must counter more effectively.