Tag: Trump Tax Scam

Trump Administration’s Deficit Forecast Is Waaaaay Off

Buck Banks

$9.5 trillion

“The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted,” the Wall Street Journal reports. “Deficits would total $9.5 trillion over the coming decade, or $2.3 trillion more than the White House estimates.”

Trump Tax Break Gives $40 Billion to Corporations

Buck Banks

$40.2 billion

A congressional report finds the wealthiest Americans will benefit the most from President Trump’s tax deduction for owners of “pass-through” businesses, NBC News reports. “The deduction, which ranges up to 20 percent, will shower $40.2 billion in tax breaks on owners of pass-throughs — largely businesses owned by an individual or a partnership, or those ‘S’ corporations that kick income and losses to shareholders for tax purposes — in 2018, the Joint Committee on Taxation estimated. The provision was included in the larger overhaul of tax rates enacted in December.”

Donald’s Lies: A List of 103 Lies Told by Trump in the First 10 Months of 2017

Jon Ponder

graph-trump-lies-vs-obama

In answer to its right-wing critics, fact checkers at the New York Times compared lies told by Donald Trump during his first 10 months in office with the lies told by Pres. Obama during his entire eight years in office.

The final tally was 103 to 18, advantage Trump. So much winning!

You can read the list of Obama’s falsehoods at the Times’ article. You’ll find the list of Trump’s lies below, but keep in mind that this list ends with October, so it does not include Donald’s recent lies, including the whopper he keeps repeating that his tax scam represents the biggest tax cut in history. Some analysts say it’s the fifth largest tax cut; others say it’s the eighth.

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Through the Lens of the GOP Tax Plan, the Future Looks Bleak

Buck Banks

If the Republican tax plan passes Congress, it will mark a watershed for the United States. The medium- and long-term effects of the plan will be a massive drop in public investment, which will come on the heels of decades of declining spending (as a percentage of gross domestic product) on infrastructure, scientific research, skills training and core government agencies. The United States can’t coast on past investments forever, and with this legislation, we are ushering in a bleak future.”

— Fareed Zakaria