On the recordOctober 4, 2017
Treasury Secretary Mnuchin and the President said that their plan would not benefit the rich and would grow the economy. They called it the Mnuchin rule. If you make $730,000 a year in America, your income would rise by 8.5 percent, which is $129,000 a year, or $10,750 a month. That is your tax cut under the Trump plan, a direct violation of what we were told. We are also told that this plan was a middle class miracle. If you make $67,000, your income will rise by 1.2 percent, which is $670 a year, or a whopping $56 a month. This is not a miracle. This is an illusion. This plan will increase the deficit by $2.4 trillion over the next 10 years. I am wondering where the deficit hawks are. We were told that these tax cuts would pay for themselves. News flash: tax cuts don't pay for themselves. In fact, economists from Goldman say these tax cuts will have virtually no good impact on the economy. The Treasury Secretary and the National Economic Adviser are both immediately from Goldman. This tax cut is a fraud being perpetrated against the American people and against the American middle class. ____________________
