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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWarren shreds Treasury analysis of GOP tax plan: They 'made up the numbers'
http://thehill.com/homenews/senate/364365-warren-shreds-treasury-analysis-of-gop-tax-plan-they-made-up-the-numbersWarren shreds Treasury analysis of GOP tax plan: They 'made up the numbers'
By Jacqueline Thomsen - 12/11/17 07:15 PM EST
Sen. Elizabeth Warren (D-Mass.) targeted the Treasury Departments analysis of the GOP tax plan in a series of tweets Monday, saying officials made up the numbers to fit their claims.
Warren bashed the one-page analysis released earlier Monday, in which the department said that economic policies passed under President Trump would raise enough revenue to cover the tax cuts in the GOP bill, which directly contradicts several independent analyses, including one from the Joint Committee on Taxation (JCT) Monday evening.
The senator, who has been a fierce critic of the tax measure, claimed that the figures used in the analysis didnt make sense.
She wrote that instead of using economic models, Treasury officials just made up the numbers.
While @USTreasurys OTP made other projections in this report, it didnt make the key projection that growth would go up about .35% annually thanks to the corporate tax changes in the GOP tax bill, she wrote.
In other words: @USTreasurys OTP couldnt support Mnuchins claims about economic growth, so he just said it again without evidence.
Warren also said the analysis is completely out of line with other projections.
To recap: After claiming repeatedly he had projections showing the #GOPTaxScam paid for itself, Mnuchin released a report showing that there were no such projections, and that even his own wildly optimistic made-up projections werent enough for the plan to pay for itself, she wrote.
The American people deserve to know how this #GOPTaxScam will impact the economy and how it will affect middle-class families. @USTreasury promised an economic analysis but this isnt it, she continued.
Democrats have largely criticized the Treasury Departments analysis of the tax bill, with Senate Minority Leader Sen. Charles Schumer (D-NY) slamming the projection as fake math.
The Joint Committee on Taxation (JCT) said in a report Monday that the bill wouldnt produce enough revenue to pay for itself and that it would cost about $1 trillion over a decade.
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Warren shreds Treasury analysis of GOP tax plan: They 'made up the numbers' (Original Post)
babylonsister
Dec 2017
OP
Correction. JCT said trillion deficit IF optimistic .7% added by tax bill. 1.6 if not.
Fred Sanders
Dec 2017
#4
Kirk Lover
(3,608 posts)1. This shaministration is just fucking famous for one pagers huh?
Ilsa
(61,695 posts)5. It's all donald can read. nt
riversedge
(70,239 posts)2. nytimes has editorial about this and so does Krugman..
Editorial: Mr. Mnuchins Magical Math on Taxes
Krugman: Steve Mnuchin Pulls a Paul Ryan
Achilleaze
(15,543 posts)3. Republican lies are dangerous for Americans
They lie about taxes, they lie about climate change, they lie about the Russian collusion to ensure that comrade casino could steal the election from America. Dangerous lies
Fred Sanders
(23,946 posts)4. Correction. JCT said trillion deficit IF optimistic .7% added by tax bill. 1.6 if not.
Vogon_Glory
(9,118 posts)6. Those of us who grew up believing that Republicans are fiscally responsible
Need to remember that the last time the Republicans came close to balancing a budget was when Gerald R. Ford was in the White House.
riversedge
(70,239 posts)7. k for visibility
malaise
(269,022 posts)8. These people should all be in prison
This is criminal.