{"id":2137,"date":"2017-11-29T22:54:00","date_gmt":"2017-11-29T22:54:00","guid":{"rendered":"http:\/\/democrats.org\/blog\/2017\/11\/29\/key-takeaways-from-trumps-tax-speech\/"},"modified":"2017-11-29T22:54:00","modified_gmt":"2017-11-29T22:54:00","slug":"key-takeaways-from-trumps-tax-speech","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/key-takeaways-from-trumps-tax-speech\/","title":{"rendered":"Key Takeaways From Trump\u2019s Tax Speech"},"content":{"rendered":"<ol>\n<li><strong>Trump admitted that the Republican tax plan favors the rich and elite:<\/strong><\/li>\n<\/ol>\n<ul>\n<li><a href=\"https:\/\/twitter.com\/ddale8\/status\/935976184604774402\">Toronto Star&rsquo;s Daniel Dale<\/a>: &ldquo;Trump points to people in the front when talking about how Congress needs to repeal the estate tax. He explains: &lsquo;They love their children. They&#39;re very rich.&rsquo;&rdquo;<\/li>\n<li><a href=\"https:\/\/twitter.com\/jimtankersley\/status\/935972236028149760\">New York Times&rsquo; Jim Tankersley<\/a>: &#8220;&lsquo;I&#39;m driving up their stock&rsquo; Trump says of bankers, many of whom he says he doesn&#39;t like. &lsquo;Anyone could do their jobs&#8230;we&#39;re making it easy for them&rsquo;&rdquo;<\/li>\n<\/ul>\n<ol>\n<li value=\"2\"><strong>Trump continued to lie about the Republican tax plan:<\/strong><\/li>\n<\/ol>\n<ul>\n<li>It won&rsquo;t bring jobs back, and would actually <a href=\"https:\/\/www.nytimes.com\/interactive\/2017\/business\/economy\/tax-reform-bill.html?_r=0\">incentivize firms<\/a> to send jobs and profits overseas;<\/li>\n<li>It does not help the middle class, and would actually <a href=\"https:\/\/www.washingtonpost.com\/news\/wonk\/wp\/2017\/11\/16\/senate-tax-bill-cuts-taxes-of-wealthy-and-hikes-taxes-of-families-earning-under-75000-over-a-decade\/?utm_term=.e266ac4f56bb\">increase taxes<\/a> on families earning less than $75,000;<\/li>\n<li>People&rsquo;s income <a href=\"https:\/\/t.co\/jdL3I38T9b\">won&rsquo;t increase<\/a> by $4,000 a year, as corporations <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-11-29\/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors\">won&rsquo;t use tax cuts to create jobs or raise wages<\/a>;<\/li>\n<li>And Trump and his family benefit, a lot, and could gain more than <a href=\"https:\/\/t.co\/Zh1jDItAPJ\">$1 billion<\/a>.<\/li>\n<\/ul>\n<ol>\n<li value=\"3\">&nbsp;&nbsp;<strong>Trump claimed credit for economic gains that were just a continuation from the Obama Administration:<\/strong><\/li>\n<\/ol>\n<ul>\n<li>Trump exaggerated his credit for the <a href=\"https:\/\/www.washingtonpost.com\/news\/fact-checker\/wp\/2017\/11\/28\/pences-claim-that-more-americans-are-working-today-than-ever-before-in-american-history\/?utm_term=.c5d79e61cbeb\">modest economic gains<\/a> under his administration that were just a continuation from the Obama Administration.<\/li>\n<li>Trump repeatedly boasted about the stock market, even though the gains were <a href=\"https:\/\/www.washingtonpost.com\/news\/fact-checker\/wp\/2017\/11\/28\/pences-claim-that-more-americans-are-working-today-than-ever-before-in-american-history\/?utm_term=.c5d79e61cbeb\">smaller than several of his recent predecessors<\/a> and just <a href=\"https:\/\/www.usatoday.com\/story\/news\/politics\/2017\/09\/19\/fact-check-trump-makes-misleading-boasts-economy-and-foreign-issues-u-n-speech\/683568001\/\">keeping pace<\/a> with gains under Obama.<\/li>\n<li>Average monthly <a href=\"https:\/\/apnews.com\/8d75295e8bf14518a3e47bff8c0fcac1\/AP-FACT-CHECK:-Trump-on-'phenomenal'-economy,-auto-trade\">job creation was lower under Trump<\/a> than under Obama in 2016<\/li>\n<li>Despite Trump&rsquo;s claims, GDP growth <a href=\"https:\/\/twitter.com\/JohnJHarwood\/status\/913794212906389504\">frequently topped 3 percent under Obama<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Trump admitted that the Republican tax plan favors the rich and elite: Toronto Star&rsquo;s Daniel Dale: &ldquo;Trump points to people in the front when talking about how Congress needs to repeal the estate tax. He explains: &lsquo;They love their children. They&#39;re very rich.&rsquo;&rdquo; New York Times&rsquo; Jim Tankersley: &#8220;&lsquo;I&#39;m driving up their stock&rsquo; Trump says <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2137","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Key Takeaways From Trump\u2019s Tax Speech - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/key-takeaways-from-trumps-tax-speech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-29T22:54:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/key-takeaways-from-trumps-tax-speech\/\",\"url\":\"https:\/\/democrats.org\/news\/key-takeaways-from-trumps-tax-speech\/\",\"name\":\"Key Takeaways From Trump\u2019s Tax Speech - 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