Donald Trump claims that his newly released tax plan "doesn't add to our debt and deficit, which are already too large." But nonprofit the Tax Foundation disagrees:
Mr. Trump's plan would cut taxes by $11.98 trillion over the next decade on a static basis. However, the plan would end up reducing tax revenues by $10.14 trillion over the next decade when accounting for economic growth from increases in the supply of labor and capital [...] The plan would [...] increase the federal government's deficit by over $10 trillion, both on a static and dynamic basis. [Tax Foundation]
The math is pretty easy to figure out: $10 trillion is much more than zero. As James Pethokoukis wrote here at The Week, Trump's plan appears to be "...a fantasy. Maybe even a joke... It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, 'We should do this, but make it more tremendous, more marvelous!'"
Then again, right or wrong, Trump never has been one to be outdone.
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