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President Donald Trump wants his base to believe that his proposed tax cut is “the biggest ever in the history of this country,” and that his predecessor, President Obama, only raised taxes over his two terms in office. None of that is true. President Obama’s “American Taxpayer Relief Act,” signed in 2013, cemented a tax cut nearly two times larger than what Trump is proposing. Trump boasted about his tax cuts being the largest ever at least four times between May and October. Both White House Press Secretary Sarah Huckabee Sanders and Chief of Staff John Kelly have repeated the dishonest talking point. Trump's proposal would save Americans a maximum of $190 billion, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget. That sounds like a lot, but it's equivalent to about one percent of gross domestic product, the leading measure of our nation’s economic output. By that measure, Trump's cut would be the eighth largest since 1918. Obama's 2013 cut, at 1.8 percent of GDP, was the fourth largest over that period. It saved American taxpayers $321 billion per year.
originally posted by: Willtell
a reply to: eXia7
Based on what ?
A few crumbs given to the people by a few big corporations.
We are at least a year or more away from whether we know " things are going in the right direction" as you say.
originally posted by: dragonridr
a reply to: Willtell
Obamas tax cut was a continuation of the Bush tax cuts. It extended the Bush tax cuts through 2012 and unemployment benefits through 2011. So who's tax cuts was it exactly?? Oh and he later raises taxes and increases and revived the inheritance tax that had lapsed. Most of his cuts towards business were targeted tax cuts benefitting solar power.
So I'd really like to see who did this comparison because it was widely suspected Obama doing away with the Bush Tax cuts later prolonged the recession.