Quantcast
Connect with us

‘There is no magical growth fairy’: Dem senator tears into Trump’s tax cuts based on ‘unicorns’ and ‘rainbows’

Published

on

Sen. Ron Wyden (D-OR) on Thursday blasted President Donald Trump’s treasury secretary, Steve Mnuchin, for using dubious economic projections to sell a tax cut plan that will largely benefit the wealthiest Americans.

“It certainly isn’t a tax recipe focused on the middle class,” Wyden explained in a speech on the Senate floor. “The treasury secretary doubled down on the failed experiment that tax cuts pay for themselves. Forget the history that says that isn’t true. The Trump treasury secretary said that the tax cuts won’t just pay for themselves, they’ll raise an additional trillion dollars in revenue on top of their own costs.”

ADVERTISEMENT

“The fact is, Mr. President, there is no magical growth fairy, no unicorns, no kind of growth fairies that are going to somehow spring to life if this tax cut plan becomes law,” the Oregon Democrat charged. “But our secretary, Treasury Secretary Mnuchin, keeps going back to the unicorns, keeps going back to rainbow economics.”

Wyden noted that Republican economists have admitted to the finance committee that tax cuts do not pay for themselves.

According to Wyden, Mnuchin is guilty of telling other “whoppers” to sell Trump’s tax plan.

“Mnuchin said, ‘It’s very hard not to give tax cuts to the wealthy with tax cuts to the middle class,” Wyden observed. “That is one stunner of a statement.”

Watch the video below from C-SPAN.

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Michael Avenatti says he has El Chapo’s former jail cell — which the drug dealer described as ‘torture’: report

Published

on

Attorney Michael Avenatti, the colorful attorney who came to prominence representing Stormy Daniels against Donald Trump, is unhappy with his jail conditions.

On Monday, his attorney wrote to the federal judge overseeing his trial to complain about the jail conditions Avenatti is experiencing during pre-trial detention.

Scott Srebnick, Avenatti's attorney, wrote to Judge Paul Gardephe to complain about the "notorious 10-South" section of the Metropolitan Correctional Center, where he is being held in the Special Housing Unit.

"He is in a cell reportedly once occupied by El Chapo, on a floor that houses individuals charged with terrorism offenses," Avenatti's attorney wrote.

Continue Reading

Breaking Banner

It is Greta Thunberg vs Donald Trump at climate-focused Davos gathering of economic elites: report

Published

on

The starkly opposed visions of US President Donald Trump and Swedish teen activist Greta Thunberg on climate change will clash in Davos on Tuesday as the World Economic Forum tries to face up to the perils of global warming on its 50th meeting.

The four-day gathering of the world's top political and business leaders in the Swiss Alps gets under way seeking to meet head-on the dangers to both the environment and economy from the heating of the planet.

Trump, who has repeatedly expressed scepticism about climate change, is set to give the first keynote address of Davos 2020 on Tuesday morning, on the same day as his impeachment trial opens at the Senate in Washington.

Continue Reading
 

Breaking Banner

‘Which Senator up this year most deserves to lose?’: Preet Bharara flooded with replies to provocative question

Published

on

Former United States Attorney Preet Bharara asked his 1.2 million Twitter followers a provocative question on the eve of President Donald Trump's impeachment trial.

With worries that Senate Majority Leader Mitch McConnell (R-KY) is presiding over a sham trial, many analysts have suggested that the Senate itself will be on trial.

"Which Senator up this year most deserves to lose?" Bharara, who was fired by Trump, asked.

There are a number of potentially vulnerable Republicans facing voters in 2020, including McConnell himself, Sen. Joni Ernst (R-IA), Sen. Susan Collins (R-ME), Sen. Martha McSally (R-AZ), Sen. Cory Gardner (R-CO), Sen. Thom Tillis (R-NC), Sen. John Cornyn (R-TX), Sen. Steve Daines (R-MT) and Sen. Lindsey Graham (R-SC).

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image