Trump’s Corporate Tax Cut Will Not Pay for Itself

Trump and his advisers have been claiming that his proposed cut in the corporate tax rate from 35% to 15% will unleash such a torrent of economic growth that it will make up for the last tax revenue. The conservative-leaning Tax Foundation says it won't even do half of that. … [Read more...]

Trump Goes Big on Tax ‘Reform.’ Kinda.

That big announcement that Trump promised about tax "reform" came out on Wednesday and, in fewer than 200 words, laid out a massive overhaul of both corporate and individual taxes without providing almost any detail at all other than marginal tax brackets. … [Read more...]

Trump Corporate Tax Cut DOA in Congress?

Donald Trump is proposing to slash the corporate tax rate to 15%, but apparently without any "offsets" -- that is, budget cuts to make up for the approximately $240 billion a year in lost revenue. Paul Ryan's tax policy expert says that plan will never pass Congress. … [Read more...]

Will Trump Go Big or Small on Taxes?

The Washington Post reports that there is a divide among Trump's advisers over whether to go big or small with their tax bill. Small would be just cuts in taxes; big would be a more comprehensive package that would eliminate all kinds of deductions and simplify the tax code. … [Read more...]

The Laffer Curve Returns, as I Predicted

I said the other day that Trump's big announcement of tax "reform" would be just the same old trickle down economics, tax cuts for the wealthy with some anticipated economic boom. Treasury Secretary Steven Mnuchin obliged me by proving me right. … [Read more...]

Trump’s Predictable ‘Big Announcement’ on Tax ‘Reform’

On Friday, Donald Trump said that there would be a "big announcement" on "tax reform" this upcoming Wednesday, a statement his aides immediately tried to walk back by saying it would just be a statement of "broad principles and priorities." … [Read more...]

No, Ben Carson Did Not Find Half a Trillion in Lost HUD Money

If you pay attention to the right-wing "news" sites and blogosphere, you'd think that Ben Carson became HUD Secretary and almost immediately found half a trillion dollars in lost money at the agency. Not a word of that is even in the ballpark of being true, however. Media Matters offers a few examples: … [Read more...]

Budget Director: Trump’s Debt Claims Were ‘Hyperbole’

White House Budget Director Mick Mulvaney did an interview on CNBC and was asked about Donald Trump's repeated claim that he would pay off the national debt if he got 8 years in office. In reality, the debt is going to go up massively. A few examples of Trump making the promise to either pay it off or pay it down: … [Read more...]

McCain: Shut Down Government if ‘Defense’ Spending Not Increased

John McCain is viewed as a moderate Republican, and on some issues that's accurate. But when it comes to "defense" spending and going to war, he's a dyed-in-the-wool hawk. He's now threatening to shut down the government if we don't increase defense spending. For the troops, of course. … [Read more...]

Trump’s Budget Reveals His Ebola Demagoguery

ThinkProgress goes back and digs up Donald Trump's ridiculous fear-mongering tweets from 2014 about how Ebola was going to kill us all and it was all Obama's fault and he should resign. So guess what his budget proposal does? Cuts funding to the agencies that fight against such outbreaks. … [Read more...]

CBO: Amendments to Republican Health Care Bill Make It Worse

The Congressional Budget Office updated its scoring on the Republican Obamacare replacement bill to include changes made earlier this week in an attempt to win over the votes of those who don't like the bill. The conclusion: Those changes make the bill worse, not better. … [Read more...]

Trump Wants to Eliminate Chemical Safety Board

Another appalling item in Trump's proposed budget is the elimination of the Chemical Safety Board, a federal commission that investigates chemical spills and accidents of toxic chemicals. Because why worry about things that endanger public health, amirite? … [Read more...]