Nov 29, 2017
President Donald Trump traveled to Missouri on Wednesday to deliver a final sales pitch for his party's deeply unpopular tax bill before it hits the Senate floor for a vote. While protesters gathered outside the St. Louis convention center hoisting signs that read "Trump lies," analysts on social media watched the president's speech closely for falsehoods.
They found quite a few. Here are some of the most glaring.
1. The GOP Plan Would Not Help Trump and His Wealthy Friends
Trump insisted that the GOP tax bill is going to cost him a "fortune."
"Believe me," the president said, "this is not good for me."
"I think my accountants are going crazy right now," Trump added. "It's alright. Hey, look. I'm president. I don't care."
In fact, according to a recent analysis by NBC News, "Trump and his heirs potentially could save more than $1 billion overall under the GOP tax proposal," principally through the repeal of the estate tax.
\u201cTrump believes that weakening the estate tax would help farmers & small biz. WRONG! This would only help wealthy families, including Trump\u2019s, pass on their fortunes tax-free!\nIvanka+siblings don\u2019t need a tax cut at the expense of working families! https://t.co/m1Yi4YQu3w\u201d— Americans For Tax Fairness (@Americans For Tax Fairness) 1511989204
\u201cTrump claims that the #GOPTaxScam isn\u2019t good for him. Lies, lies, lies. Trump and his family stand to greatly benefit from weakening the estate tax alone! https://t.co/LE12Oppvo0\u201d— Americans For Tax Fairness (@Americans For Tax Fairness) 1511987841
\u201cIn 2019 the richest 1% of taxpayers would receive 60% of the pass-through tax breaks and 44% of the corporate tax breaks. https://t.co/r5t3O1wuA6 6/8\u201d— ITEP (@ITEP) 1511992615
2. The GOP Tax Plan Is Anti-Outsourcing
Trump claimed that the Republican tax bill would prevent corporations from sending jobs and profits overseas to boost their bottom-lines.
\u201cTrump says the #GOPTaxScam is anti outsourcing. \n\nBut, in reality, it would *encourage* outsourcing. https://t.co/7gtz9lqHK1\u201d— CAP Action (@CAP Action) 1511989443
\u201c#GOPTaxScam incentivizes corps. to shift more profits offshore! Also, their scam will allow large corps to pay low taxes on foreign profits killing jobs at home. https://t.co/vKZ4CcidWx\u201d— Americans For Tax Fairness (@Americans For Tax Fairness) 1511989235
3. Tax Cuts for Wealthy Individuals and Large Corporations Will Create Jobs and Boost Wages
Trump continued parroting the longstanding GOP "myth" that tax cuts spur job growth, boost the economy, and lead to higher wages.
But a recent analysis by the Center on Budget and Policy Priorities concluded that corporate rate cuts are actually "a poor way to help the economy and most workers--and could hurt them."
As Common Dreamsreported, business leaders have already conceded that they plan to use the extra cash they are set to receive from the tax plan to reward their shareholders, not their employees.
\u201cTrump: Giving large corps giant tax cuts will help create jobs and increase workers\u2019 wages.\nFACT: Not really...large corps use their tax cuts to reward their CEOs & shareholders. #GOPTaxScam https://t.co/oMcgiqipLc\u201d— Americans For Tax Fairness (@Americans For Tax Fairness) 1511988499
4. The Bill Is "Great" for the Working Class
Trump repeatedly insisted that the GOP tax bill will be great for workers and the middle class, and not the top one percent.
"The rich people actually don't like me," Trump claimed at the tail-end of his Missouri speech. "The people that like me best are the workers."
But millions of workers likely won't be happy with the Republican plan, given that numerous analyses have shown that the bill would hike taxes on tens of millions of working class families.
\u201cTrump: If we don't pass these tax cuts, your taxes will go up.\nFACT: If the #GOPTaxScam is passed, 87M Americans will receive tax hikes! https://t.co/jKW1ZCfmnT\u201d— Americans For Tax Fairness (@Americans For Tax Fairness) 1511987099
\u201cThe Senate #GOPTaxPlan gets worse over time, with increases in taxes every year: https://t.co/Q3jnHx1UEB\u201d— Center on Budget (@Center on Budget) 1511991008
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