dnc_email_06273.txt

dnc-emails 606 words email

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[cid:[email protected]]<factivists.democrats.org/the-king-of-debt-donald-trump-and-the-gop-on-the-economy/> In less than a week since becoming the GOP’s presumptive nominee, Donald Trump has already exposed himself as reckless and dangerous on the American economy. His comments over the last few days promise to undermine the role of the United States as a major economic power and potentially threaten the global financial system. While his stances mimic those of Republicans in Congress, they often go further and are more irresponsible than those of his counterparts in the House and Senate. On Taxes, Trump Can’t Hide from GOP’s Obsession with Trickle Down Economics – Yesterday, Trump tried to dismiss concerns about his reckless tax plan, which would reward those at the top<http://www.reuters.com/article/us-usa-election-trump-idUSKCN0XZ0I3> by slashing the top income tax rate to 25 percent from 39.6 percent, claiming that “the rich” are “probably going to end up paying more.” In reality, such a move would give<http://www.nbcnews.com/politics/first-read/first-read-why-trump-s-flip-flop-taxes-matters-n570431> the “top 0.1% of income earners like himself an average tax cut of more than $1.3 million (versus $2,700 for those in the middle class).” And just this morning, Trump once again confirmed<http://www.reuters.com/article/us-usa-election-idUSKCN0Y01J4> that he would, in fact, lower taxes on the wealthiest of Americans. Trump also plans to substantially<https://www.donaldjtrump.com/positions/tax-reform> reduce the corporate tax rate to 15 percent, even beyond the reckless plan put forth by Republican Speaker Paul Ryan. Trump’s plans are just like the proposal put forth by Republicans in Congress who want to cut<http://www.taxjusticeblog.org/archive/2015/10/paul_ryan_wants_to_cut_taxes_f.php#.VzCi6oQrK70> the top tax rate to 25 percent. Paul Ryan and his colleagues would also cut corporate taxes down to 25 percent – but Trump wants to go even further, down to 15 percent. There’s a name for this: Trickle Down Economics. And it doesn’t work. Just ask the last two Republican Administrations, which both left our country mired in recession and facing massive deficits. On America’s Debt: A Page Out of the GOP Playbook – This morning, Trump doubled down on his statements that the United States should consider<http://www.politico.com/story/2016/05/trump-no-debt-default-222957#ixzz48AeHAolA> playing fast and loose with our nation’s finances, even calling himself “the king of debt.” He also said, “this is the United States government. First of all, you never have to default because you print the money.” Such reckless positions, if implemented, could threaten America’s standing in the world and lead to chaos in the financial markets. This is the same sort of behavior that Republicans in Congress undertook when they played politics last year with the debt ceiling (this was not the first time), leading one credit rating agency to remark<http://www.latimes.com/business/la-fi-government-shutdown-credit-rating-fitch-20150923-story.html> that any protracted fight over the issue could endanger America’s credit rating. “Donald Trump’s reckless tax policies and his suggestion that we should play chicken with the country’s finances are lifted directly from the same old failed Republican playbook. Trump can ignore reality and crown himself the king of debt, but it’s clear that his economic ideas, and those of his fellow Republicans are simply bankrupt. The American people and our economy can’t afford a disastrous Trump presidency.” - DNC National Press Secretary Mark Paustenbach View this post on our Factivists site here<http://factivists.democrats.org/the-king-of-debt-donald-trump-and-the-gop-on-the-economy/>. ###