Rep. Ted Lieu (D-Calif.) on Wednesday cast President Trump and congressional Republicans’ tax proposal not just as bad policy, but bad math.
Rep. Ted Lieu (D-Calif.) on Wednesday cast President Trump and congressional Republicans’ tax proposal not just as bad policy, but bad math.
“If you believe 2+2=7, you will like GOP #TaxReform plan,” Lieu wrote on Twitter. “If you believe in math & don’t want to blow up fed deficit, you will be horrified.”
Lieu’s comments came after Trump unveiled a tax reform framework during a speech in Indiana on Wednesday.
That plan slashes taxes for businesses, the wealthy and the middle class, and promises to drastically simplify the tax code, including reducing the number of tax brackets from seven to three – 12 percent, 25 percent and 35 percent.
The proposal also preserves popular deductions and does away with the alternative-minimum tax and the estate tax.
But the proposal offers little insight into how to pay for the tax cuts and avoid racking up trillions more in national debt.
And while the plan has largely unified Republicans, Democrats have indicated that they will put up a fight. Many accused the plan of serving to enrich the wealthiest Americans, while ballooning the deficit.
