Trump’s Big Tax Speech vs. Reality
Moments ago, President Trump announced Republicans will be giving the American people ‘a giant tax cut for Christmas.’
But here’s the reality about the GOP tax scam:
President Trump: ‘As we speak Congress has reached an agreement on tax legislation that will deliver more jobs, higher wages.’
REALITY: Washington Post Op-Ed: Republican tax plan will lead to more offshoring of U.S. jobs and a larger trade deficit.
President Trump: ‘The tax plan closes special interest loopholes.’
REALITY: POLITICO: Republicans’ tax-rewrite plans are riddled with bugs, loopholes and other potential problems.
President Trump: ‘We will never let bad things happen with respect to the economy of our country.’
REALITY: Joint Committee on Taxation: The tax bills that the House and Senate have passed and are now seeking to reconcile would add nearly $1.5 trillion to federal deficits over the next decade.
President Trump: ‘We are just days away … from delivering a truly amazing victory for American families.’
REALITY: Washington Post: In short, the bill doesn’t deliver on the growth. It produces lots of debt, with the very rich as the primary beneficiaries.