Donald Trump's tax plan would increase the deficit by $10 trillion
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]
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