Trump's most recent on tax reform is to reduce the corporate income tax rate from 35% to 15%, a 20% reduction. That will explode the federal deficit once again and add trillions of dollars to the deficit and national debt just as the Reagan and George W. Bush tax cuts did. And Trump is trying to sell the plan as a revenue maker when in fact it will reduce federal revenues dramatically. Reagan and Bush's trickle down economics did not balance one federal budget in the sixteen years they served and in fact neither Presidents sent one balanced budget to congress after telling the people how trickle down economics was going to expand the economy, create jobs and balance the budget. It was a sham from the very beginning.
President Trump's "made in America and buy American" follows the same fake news and rings hollow. Trump still operates some manufacturing plants outside the U.S. and of course his company still buys foreign products and supplies. His latest completed adventure, the Trump tower in Washington, D.C. was built with foreign steel. That is the hotel where he has a conflict of interest as President. Trump's son applied through the VISA system to hire foreign workers to work in his Kentucky winery just in the last few months. It would be nice if Trump would set the example and bring his manufacturing back to the U.S. and buy American. But don't hold your breath.
It appears that the only examples this President sets are the bad ones.
This commentary written by Joe Lorio
