Skip to content
Search AI Powered

Latest Stories

The Architect of Donald Trump's Tax Cut Plan Is Now Blaming Democrats for Soaring Deficits, and People Can't Even

The Architect of Donald Trump's Tax Cut Plan Is Now Blaming Democrats for Soaring Deficits, and People Can't Even
WASHINGTON, DC - MARCH 06: Treasury Secretary Steven Mnuchin testifies during a House Appropriations Committee hearing on Capitol Hill, on March 6, 2018 in Washington, DC. The committee is hearing testimony on the Trump administrations FY2019 budget request for the Department of Treasury. (Photo by Mark Wilson/Getty Images)

Riiight.

In an interview with CNN, Treasury Secretary Steven Mnuchin said Democrats are to blame for the ballooning deficit, which is expected to hit $1 trillion when official numbers are released next week, and placed specific blame on spending increases on health and education in exchange for military budget increases as part of a massive spending package President Donald Trump signed in September 2017 to avert a government shutdown.

"People are going to want to say the deficit is because of the tax cuts. That's not the real story," he said. "The real story is we made a significant investment in the military which is very, very important, and to get that done we had to increase non-military spending."


"If we could have approved that with 51 votes instead of 60 votes, we would not have spent as much money on non-military spending and the budget deficit would have been considerably smaller," he added.

Although Mnuchin declined to comment on details of the coming deficit numbers, he insisted: "We're on our way on growth, the tax bill will pay for itself and provide additional revenue."

Mnuchin was perhaps the biggest proponent of the much-criticized GOP tax cuts, which have cost the Treasury Department billions in revenue, and many objected to his version of events.

Blaming Democrats for the tax plan is not a new talking point. President Trump himself has often blamed Democrats even though the Republican Party has control of Congress. He once claimed that “the only people” who don’t care for the tax proposal are those who “don’t understand” it and the “Obstructionist Democrats."

The president's comment came on the heels of a Quinnipiac University poll which found that 53 percent of U.S. voters disapproved of the Republican tax plan. That poll found that 64 percent of Americans believed that the plan, if passed, would benefit only the nation’s wealthiest citizens, while only 24 percent think the middle class would benefit. Just 5 percent believe the plan would benefit those in the lowest income bracket.

An analysis by The Joint Committee on Taxation released in November 2017 found that the tax plan would add $1 trillion to the deficit over a decade––even when accounting for economic growth. A Penn Wharton Budget Model predicts the tax plan would add approximately $1.39 trillion to the deficit, while a Tax Foundation predicts the proposal would add $516 billion to the deficit.

Last year, a troubling report from the nonpartisan Congressional Budget Office (CBO) revealed that the plan “gives substantial tax cuts and benefits to Americans earning more than $100,000 a year”––hitting the nation’s poorest citizens particularly hard––and that the legislation would “add an increase in the deficit of $1,414 billion over the next 10 years.”

In December 2017, Mnuchin came under fire after Senator Elizabeth Warren (D-MA) triggered an investigation over political meddling in the tax policy office after The New York Times and several other media outlets revealed that Mnuchin, in pitching the $1.5 trillion tax overhaul he says will bolster economic growth, has been citing a report that doesn’t exist.

Mnuchin had promised that the Treasury would release its analysis in full as the Senate prepared to vote on the first rewrite of the country’s tax code in three decades, and had said that over 100 people in Treasury are “working around the clock on running scenarios for us.”

The administration had yet to release any type of tax analysis, however, and those inside the Treasury’s Office of Tax Policy told reporters that they are not working on any analysis he has mentioned. In fact, an economist at the Office of Tax Analysis, who spoke to New York Times reporters on the condition of anonymity, said Treasury had not released a “dynamic” analysis indicating the tax plan will pay for itself with economic growth because one did not exist.

More from News

Mark Kelly; Pete Hegseth
Jacek Boczarski/Anadolu via Getty Images; Chip Somodevilla/Getty Images

Mark Kelly Rips Pete Hegseth After Pentagon Moves To Cut His Pension And Demote Him Over Video About Illegal Orders

Senator Mark Kelly, who flew combat missions during the Gulf War in the U.S. Navy before being selected as a NASA Space Shuttle pilot, blasted MAGA Republican President Donald Trump's Secretary of Defense, Pete Hegseth, for his part in the latest Trump administration attempt to lash out at their political rivals.

Hegseth previously demanded the Navy provide punishment recommendations to the Pentagon's Office of General Counsel for the retired Captain, who flew 39 combat missions during the Gulf War before going to space four times for NASA.

Keep ReadingShow less
Tucker Carlson Dragged After Offering Truly Bonkers Theory For Why Trump Captured Nicolás Maduro

Tucker Carlson Dragged After Offering Truly Bonkers Theory For Why Trump Captured Nicolás Maduro

Former Fox News host turned far-right podcaster Tucker Carlson raised eyebrows after he claimed that President Donald Trump captured Venezuelan dictator Nicolás Maduro in order to bring same-sex marriage to the people of a country now in a dangerous state of flux after the U.S. invaded.

Weirdly, he claimed “pro-gay forces” were secretly driving regime change, pointing to Nobel Peace Prize recipient and opposition leader María Corina Machado's support for same-sex marriage. He suggested this is proof that "globo homo," his term for progressive liberal elites, are hard at work.

Keep ReadingShow less
Jimmy Kimmel; Donald Trump
Amy Sussman/Getty Images for Critics Choice Association; Win McNamee/Getty Images

Jimmy Kimmel Thanks Trump After Winning Critics Choice Award In A Roast For The Ages

Late-night host Jimmy Kimmel mockingly thanked President Donald Trump when he took home the Critics Choice Award on Sunday for Best Talk Show, suggesting Trump helped him win the honor in part because of 'all the many ridiculous things you do each and every day."

Kimmel's remarks were considerably pointed considering the role Trump played in pulling Kimmel off the air this past autumn.

Keep ReadingShow less
Groom placing wedding ring on bride's finger
Photo by Jeongim Kwon on Unsplash

Married People Explain How Often They Take Their Wedding Ring Off

When two people get married, there's an assumption that others tend to make: that the couple will wear their wedding rings no matter what, and if they don't, it's a sign of a troubled marriage and a lack of commitment.

But there are lots of reasons not to wear wedding rings full-time, from cleanliness to safety to health concerns.

Keep ReadingShow less
Katie Miller
Kevin Dietsch/Getty Images

Denmark Slams Stephen Miller's Wife After She Shares Image Of Greenland Covered By American Flag

The wife of MAGA Republican President Donald Trump's United States Homeland Security Advisor and White House Deputy Chief of Staff for Policy, Stephen Miller, is drawing backlash from the international community as well as the folks at home over a meme she posted on X on Saturday.

Podcaster Katie Miller, who left government service to work for Elon Musk, posted a graphic on her personal X account, an image with the caption "SOON." The image depicts a map of Greenland with the United States flag overlaid on it.

Keep ReadingShow less