Now Donald Trump’s allies are admitting his economic plan unveiled this week are pretty much B.S. Yesterday, Trump supporter and former Speaker of the House Newt Gingrich, admitted as much to Fox News.
When asked if Trump’s numbers add up, Gingrich replied “of course not…”
From Huffington Post:
Newt Gingrich did his best to defend Trump, and effectively attacked Hillary Clinton’s recent bizarre and false statements about her email scandal. But Gingrich also had to acknowledge that his candidate’s economic plan is nonsense. When host Chris Wallace asked whether Trump’s tax and spending plan adds up, Gingrich admitted the absurdity.
“Of course not,” Gingrich said. “Historically, no candidates have numbers that add up.”
It’s, let’s say, very unusual for campaign surrogates to acknowledge that their campaign’s entire economic policy is bunk.
“Gingrich’s point is, in a sense, technically accurate and completely ridiculous. Republicans have been particularly egregious on this front. According to a conservative think tank, in the 2016 primary, Bobby Jindal offered a tax plan that would balloon the federal debt by $9 trillion. Other analysts said the Jeb Bush tax plan would cost $8.1 trillion. When Mitt Romney offered a $5 trillion tax cut in 2012 while vowing not to raise taxes on anyone, nonpartisan analysts noted this was impossible, and would require raising taxes on middle-class families.”
The report went on to conclude, “Trump’s plan would add $11.2 trillion onto the national debt ― most of that fueled by tax cuts for the wealthy. Since the federal debt owed to the public is about $12.8 trillion, that’s an increase of more than 87 percent. There’s not adding up, and then there’s not adding up, Trump style.”
Sounds like math is not a strong subject for Republican presidential candidates. It also sounds like Donald Trump would create tax benefits for people in Donald Trump’s tax bracket, which likely includes very few of the people voting for him, as it includes very few Americans in general.