The former president dusts off familiar falsehoods about tax cuts, inflation, energy independence, EV’s, gas prices, crime, “illegal aliens” and more.
Former president Donald Trump delivers his speech on the final day of the Republican National Convention in Milwaukee.
Trump’s tax cut is the eighth-largest tax cut in the past century — and even smaller than two tax cuts passed under President Barack Obama. Trump’s tax cut was heavily tilted toward the wealthy and corporations.Trump’s claim of the most or biggest regulation cuts cannot be easily verified and appears to be false. There is no reliable metric on which to judge this claim — or to compare him to previous presidents. Many experts say the most significant regulatory changes in U.S.
Running again for president, Trump now claims the debt would be reduced by money generated by oil and natural gas reserves in the ground. But most of the money is earned by oil producers, not the federal government. The federal government might own some of the land and earn leasing fees. Such fees on U.S. federal lands, federal waters and Native American lands amounted to about $20 billion in fiscal 2022,already dedicated to transportation projects.
Before the coronavirus pandemic shuttered businesses and sent unemployment soaring, the president could certainly brag about the state of the economy in his first three years as president. But heBy just about any important measure, the economy under Trump did not do as well as it did under Presidents Harry S. Truman, Lyndon B. Johnson and Bill Clinton. The gross domestic product grew at anin 2019, slipping from 2.9 percent in 2018 and 2.4 percent in 2017. But in 1997, 1998 and 1999, GDP grew 4.
“Under this administration, groceries are up 57 percent, gasoline is up 60 and 70 percent. Mortgage rates have quadrupled.” This is false. For five years, Biden has been consistent in saying he will not raise taxes on people making less than $400,000 a year, which leaves about the top 2 percent of taxpayers. Biden reiterated this pledge in the budget plan he released earlier this year.
Trump falsely suggests he significantly overhauled the North American Free Trade Agreement when he replaced it with USMCA. But the new agreement only made modest tweaks to NAFTA, such as modernizing trade rules in effect from 1994 to 2020, giving some wins to U.S. farmers and blue-collar workers in the auto sector. Some elements of the deal were borrowed from the Trans Pacific Partnership, the trade deal Trump scrapped at the start of his term. The U.S.
Treasury officials say that because of attrition, after 10 years of increasing spending, the size of the agency will have grown only 25 to 30 percent when the hiring burst is complete. The administration’s strategic plan for the IRS estimated that an additional 1,543 full-time employees would be hired for enforcement in 2023, or about 15 percent of newly hired staff. That would grow to 7,239 in 2024, or 37 percent of new staff.
Trump told a long story about how he convinced countries that were not accepting the deportation gang members. He specifically mentioned MS-13, a transnational gang that formed in Los Angeles in the 1980s among members of the Salvadoran community who had fled violence and civil conflict in El Salvador. But he suggested the countries would not accept these gang members until he threatened to withhold aid.
“In Venezuela, Caracas. High crime, high crime. Caracas, Venezuela. Really a dangerous place, but not anymore. Because in Venezuela, crime is down 72 percent.” As for “100 percent,” that’s exaggerated. The loss of physical territory did not mean the group was defeated. In August 2019, the Defense Department inspector general: “Despite losing its territorial ‘caliphate,’ the Islamic State … solidified its insurgent capabilities in Iraq and was resurging in Syria. The reduction of U.S. forces has decreased the support available for Syrian partner forces at a time when their forces need more training and equipping to respond to the ISIS resurgence.
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