Trump's Big Tax Speech vs. Reality
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.