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The Buzz: What They’re Still Saying About Trump’s Economic Speech

The Buzz: What They’re Still Saying About Trump’s Economic Speech

The reviews of Donald Trump’s economic speech today continue to pour in – and they’re not good.




Trump mixes facts, falsehoods to rip Clinton on the economy


…Trump offered no details on how he intended to fund the cuts, other than promising to eradicate the country’s trade deficit. …  He stated, “No one will gain more from these proposals than low-and-middle income Americans”; the non-partisan Tax Policy Center, however, has concluded: “the largest benefits, in dollar and percentage terms, would go to the highest income households.” And Trump repeated a claim that the government employment figures are manipulated even though not a single serious economist has validated the claim.


Trump Peddles Slew Of Debunked Economic Claims In Detroit Speech


Donald Trump on Monday peddled largely uncontroversial Republican economic plans during a major policy address in Detroit—but he also pushed a slew of falsehoods about the health of the American economy. . .Trump also repeated his well-worn claim that the “real” unemployment rate is much higher than the Labor Department reports, which he framed as an intentional effort to spin the state of the U.S. economy in “one of the biggest hoaxes in American modern politics.”


Donald Trump Reveals His Economic Plan for the Really Rich


… There was also a lot of random guff about how disastrous the economy is; how the unemployment rate is a hoax; and how American energy, planes, cars, steel, and so forth will employ way more American workers once Trump becomes president. You bet. As near as I can tell, literally every single one of his proposals above would benefit the rich and do virtually nothing for the working and middle classes. But he sure knows how to put a populist spin on giveaways to the rich, doesn’t he?


Why Trump’s child care plan won’t help poor families


…His campaign says the proposal will help low-income families and middle class Americans afford the increasing costs of raising young children, making it easier for parents to work. But the vast majority of poor families will not benefit from Trump’s plan. In his speech Monday, Trump offered few details about the deduction and his campaign did not respond to a request for more information. His website says he would “exclude child care expenses from taxation.” In other words, Trump wants to create a new tax deduction for child care expenses. . .This is the nature of tax expenditures: They benefit the rich and leave behind the poor. The Congressional Budget Office found that more than 50 percent of tax expenditures accrued to the top 20 percent of earners. . .If Trump is looking to help Americans afford the costs of child care, this plan does almost nothing to help. But if Trump simply wants any plan as a response to Clinton’s family proposals—regardless of whether it actually achieves its purported goals—then this does just that.


NEW YORK’S ANNIE LOWREY: Trump’s speech was a “self-contradictory word salad” that offered a “huge tax cut to the wealthiest families.”


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CNN’S CHRISTINA ALESCI fact-checked Trump’s speech and concluded that his tax cuts “will probably disproportionately benefit the wealthy.”


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ALAN KRUEGER, FORMER CHAIR OF THE PRESIDENT’S COUNCIL OF ECONOMIC ADVISORS, said Trump’s proposal would “blow up the debt” and there’s nothing “in here that will help the economy.”  



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GENE SPERLING, FORMER WHITE HOUSE ECONOMIC ADVISOR, said “the real highlight” of Trump’s plan is “a doubling down on probably the parts of his tax cuts that will most contribute to economic inequality.” 



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