Trump’s Misinformation About the Great GOP Tax Cut Heist
by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)
He has no moral sense about truth or fabrications. He’s done George Washington one better.
Perhaps he can’t lie or tell the truth because he can’t tell the difference between the two, the Clintons, Bush/Cheney and Obama afflicted the same way – serial liars, like Trump, unable to accept hard truths when they smack them in the face.
Friday in the White House Grand Foyer, Trump laid out an elaborate hoax about what the GOP tax cut will do for ordinary Americans – an exercise in pure deception.
Trump: “Together we are unleashing a new era of American prosperity, perhaps like we have never seen before.”
Fact: Baloney! The GOP bill enriches corporate predators and high-net-worth households at the expense of ordinary Americans and social justice losing out.
Trump: A “typical family of four earning $75,000 would see in income tax cuts, slashing its tax bill in half.”
Fact: Most families will be taxed more in the bill’s out-years. Seniors will be harmed by large Medicare cuts. Millions of poor Americans will lose Medicaid. Eliminating the individual mandate assures millions more left uninsured. Cutting Social Security may come next.
Fact: Social justice overall will erode sharply to help pay for the measure. Trump’s “middle class miracle” is nightmarish for most Americans.
Trump: “(I)ncomes are expected to rise across the board by” $4,000.
Fact: Much more than this for America’s privileged class, not for most Americans, losing out from the measure.
Trump: “The level of growth the US economy…already reached in 2017 – and tax reform would take it even further.”
Fact: According to ShadowStats economist John Williams, “(b)etter-quality economic measures continue to show no full recovery from the collapse into 2009 and no economic expansion.”
Fact: Tax cuts have nothing to do with economic growth and jobs creation – corporate beneficiaries to use their windfall for investment gains, stock buybacks, along with mergers and acquisitions to become larger, more powerful and predatory than already.
Trump: “The Republican tax plan helps working families (and) small businesses…” (It’ll) increase investment…leading to higher growth, higher wages, and more jobs.”
Fact: False on all counts.
Trump’s claim of a “3 – 5% increase in GDP growth over 10 years” because of the tax cut is pure baloney.
The measure will benefit Trump, his family, House and Senate millionaires, other high-net-worth individuals, and corporate predators – at the expense of scamming the public.
My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”