Whatdya know? Another one of Trump’s big promises has turned out to be bullshit. One of Trump’s biggest points of his presidency was the tax bill scam that gave cuts to the 1% while simultaneously screwing the little guy. But POTUS promised that the bill has an advantageous end game — to help grow the economy and ultimately benefit the economy for millions of working American’s. Except it actually isn’t.
While Trump has and we’re sure will continue to back his tax bill with the nonsense of making a better America, his own White House is admitting that the tax scam was a complete and total failure.
When Trump first put the tax law on the table, he boasted that the scam would rake in economic growth of at least 6 percent. Trump’s CEA released an analysis back in late 2017 claiming that, while it’s wasn’t necessarily in line with Donald’s 6% prediction, that cutting taxes for the wealthy down from 35 percent to 20 percent would show a growth rate of 3-5%— leading them to ultimately cut taxes for wealthy corporations down to 21% — causing big breaks for the 1% and leaving middle-class families with higher tax bills and smaller refunds.
But as it turns out, they were both way off. The White House Council of Economic Advisors (CEA) released a report today proving that Trump’s tax bill is doing, well, absolutely no damn good. In their report, they admitted that, even in a best-case scenario, the US economy will not be sustaining even a 3% growth rate for the foreseeable future. In fact, they’re predicting some pretty serious decreases — estimating that growth will slow to 2.5% in 2022 and down to a staggering 2% by 2026 — and according to several other economists, those predictions are optimistic, at best. The Washington Post reported that many economists expect to see a dip down to 2% by 202, possibly causing another recession.
So, there you have it. Trump is a big fat liar who’s only intentions are lining his pockets and those of his 1% cronies while screwing the eyeballs out of the middle class in the meantime. His tax law is a total bust, and we’re not even surprised.
Featured image via DC Tribune gallery