Here Is Proof That Trumps Tax Plan Will Destroy America

https://www.politicususa.com/2018/04/14/ryan-retiring-amid-proof-that-tax-plan-will-destroy-america.html

BY LEO VIDAL at Politicus USA

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5. President Donald Trump has bragged that there would be enough economic growth triggered by his tax plan to pay for itself. But this won’t even help America: “80 percent of the economic growth generated by the Republican tax cuts will go abroad and benefit foreigners by 2028, after individual tax cuts expire”, according to an analysis by Democratic Senator Chris Van Hollen of Maryland.

6. The tax plan was passed in such a rushed manner that it is full of errors that still need correcting, causing major problems for taxpayers and for the IRS (as well as for state departments of revenue.) Republicans have asked Democrats to help them fix the problems they created.

Ultimately it is the estimated cumulative deficit over the next decade that will cause the most problems. The tax plan won’t pay for itself. Massive deficits will lead to pressure to cut back social programs. The Congressional Budget Office estimates that the federal deficit will be $1.6 trillion larger than previously projected, thanks to the misguided Republican plan.

In fact, current projects show that by the year 2028, our national debt will be nearly as large as our entire Gross Domestic Product. This is not sustainable.

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