Peter Schiff says GOP exists ‘in name only’ thanks to Trump — warning US has 2 Democratic parties.
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Peter Schiff, co-founder of Euro Pacific Asset Management, says America now effectively has “two big-government political parties,” arguing fiscal conservatism has largely disappeared from Washington. “Thanks to Donald Trump, we now have two Democratic parties,” Schiff wrote on X (1), “With the defeat of @RepThomasMassie for being a principled fiscal conservative, the Republican Party basically exists in name only.” Top Picks – – – Goldman Sachs used to hoard prime real estate deals for the ultrarich. Two ex-analysts just opened the door for $250 Schiff’s comments came in response to the political fallout surrounding Rep. Thomas Massie, a Republican congressman from Kentucky and one of Congress’s most outspoken fiscal conservatives.
Massie was one of two Republican representatives (2) who opposed the One Big Beautiful Bill Act (3), a sweeping Trump-backed tax and spending package that includes provisions such as eliminating taxes on tips and overtime pay while extending portions of the 2017 Tax Cuts and Jobs Act. It was ultimately signed into law on July 4, 2025. “When the swamp and Epstein class couldn’t buy my vote, they bought the most expensive congressional seat ever,” Massie wrote in a post on X (4) following his loss. “I’m optimistic because the younger generation understands what’s going on.” Schiff recently argued in a barrage of X (5) posts on May 19 that the bill was a “tax hike,” adding, “Americans will pay for phony tax cuts with higher inflation. Anyone who tells you the Big, Beautiful Bill was a tax cut is lying.” “Of all the damage Trump and Republicans have done to fuel inflation, nothing comes close to that ugly bill,” Schiff wrote again on X (6) on May 21st.