Trump economic speech full of debunked claims

Posted by | August 8, 2016 15:28 | Filed under: Economy News Behaving Badly Politics

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A slew of falsehoods populated Trump’s Monday economic speech.

Trump also repeated his well-worn claim that the “real” unemployment rate is much higher than the Labor Department reports, which he framed as an intentional effort to spin the state of the U.S. economy in “one of the biggest hoaxes in American modern politics.”

The New York real estate mogul has suggested the unemployment rate is actually anywhere from 21 percent to as high at 42 percent, while the federal government has reported the rate hovering around 5 percent. As the Wall Street Journal points out, Trump’s claim is correct only in the sense that it includes groups the Labor Department doesn’t count as unemployed, like the elderly, teenagers in school, the disabled and stay-at-home parents.

In one false line of attack on Clinton, Trump claimed the former secretary of state has proposed “one of the biggest ever” tax increases, which he said would target middle-class Americans. Avideo sent out by the campaign last week, which relies on an incorrect transcript, misleadingly claimed Clinton said at a campaign event, “We are going to raise taxes on the middle class,” when she actually said “aren’t.” Her campaign has disputed any remarks about raising taxes on the middle class.

Tearing another page out of the playbook of Republican orthodoxy, Trump promised he would repeal “disastrous Obamacare, saving another 2 million American jobs.” However, the notion that the Affordable Care Act “killed” 2 million jobs, which is based on a bungled interpretation of a Congressional Budget Office report, has been thoroughly debunked.

According to Trump, the U.S. has the highest business tax rate among the major industrialized nations of the world at 35 percent, which under his plan would be slashed to no more than 15 percent. Although the country has the third-highest top marginal corporate income tax rate in the world (and the highest among the industrialized nations), the reality is that the money collected is cut significantly by things like tax credits and offshore tax havens. In 2010, the average effective federal tax rate paid by large, profitable corporations was just 12.6 percent,according to the Government Accountability Office.

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Copyright 2016 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

55 responses to Trump economic speech full of debunked claims

  1. anothertoothpick August 8th, 2016 at 15:45

    Trump in a nutshell..

    The rest of the world should ignore what is good for your people.

    And I will build a military that will force you to not do what is good for your people

    For I AM DONALD TRUMP

    • StoneyCurtisll August 8th, 2016 at 20:12

      Don’t forget Trump is going to “build a wall” between North Korea and the USA…
      (a floating wall in the ocean)..
      And guess who is gonna pay for it?

      • anothertoothpick August 8th, 2016 at 20:23

        The Mexicans??

        • StoneyCurtisll August 8th, 2016 at 20:28

          No….
          The DPRK, “Believe me” < Trumps voice

          • anothertoothpick August 8th, 2016 at 20:33

            Hahanahahahana

  2. labman57 August 8th, 2016 at 15:56

    Trump continually refers to Obama as a “job killer”.
    Once again, Donald refuses to let reality undermine his fact-devoid rhetoric.

    How many millions of jobs have been created since Obama’s legislative proposals first went into effect (i.e., after his first 9 months in office)?

    • anothertoothpick August 8th, 2016 at 16:25

      Not only are we at almost full employment ,wages are actually rising..

      Granted not fast enough but wages are going the right way..

      • StoneyCurtisll August 8th, 2016 at 20:09

        Exactly…
        4.6% is considered full employment,…
        Anything below that, employers freak out because workers start demanding higher wages..
        It’s economics 101…

  3. bpollen August 8th, 2016 at 16:05

    I’m shocked!

    Just like this:
    .

    • bpollen August 8th, 2016 at 16:06

      Ooops… fat fingers…
      .

  4. anothertoothpick August 8th, 2016 at 16:14

    Tax cuts for the rich hurt poor people..

    Do you want to know how I learned that

    Read about Lee Atwater and his southern strategy. He actually said this..

    In their world punishing poor people is righteous

    • Red Mann August 8th, 2016 at 20:55

      Just like Mother Teresa.

  5. anothertoothpick August 8th, 2016 at 16:23

    Our country has been uniquely successful with out any walls built on our borders..

    We have the greatest economy in the world….and no walls built.

    • StoneyCurtisll August 8th, 2016 at 20:06

      Speaking of Walls….
      Hello Walls…
      https://www.youtube.com/watch?v=HMSWAUAKJn0

      • anothertoothpick August 8th, 2016 at 20:12

        Faron Young?

        Stoney how the hell did you manage to dig this one up?

        HAHAHAHAHAHAH

        • StoneyCurtisll August 8th, 2016 at 20:15

          It’s what I do….
          it’s my obsession..
          Sometimes I let the music speak for me…
          Other times I make silly comments..:)

          • anothertoothpick August 8th, 2016 at 20:20

            And you do a very good job of it.

            I swear to you Stoney I remember seeing Faron Young perform that song on a TV show called “,The Hit Parade”.. and I am willing to bet that is where that clip came from.

            So, you know Faron Young was just in front of “rock and roll”??

            Are you familiar with “the hit parade”?

            • StoneyCurtisll August 8th, 2016 at 20:37

              I been around a long time…
              I remembered hearing the song as a little kid on the HiFi console, LP record player when I was very young..(it even had FM)…

              I inherited a big stack of records after my pop passed away many years ago..
              I remember Lots old TV shows, many black and white, some turned into color…

              • anothertoothpick August 8th, 2016 at 20:51

                You’re “Pop” had a good ear for music, I would say.

              • TiredOldGuy August 8th, 2016 at 20:55

                My dad had a 5 ft tall Victrola “record player” that you had to crank up to play with a bunch of Big Band 78s. My oldest sister got it when he died and gave it to her daughter who’s husband (now ex) sold it.

                • StoneyCurtisll August 8th, 2016 at 20:56

                  the bastard…(who sold it)…:)

                  • TiredOldGuy August 8th, 2016 at 20:58

                    For $50.00. Part of the reason he became “ex”.

                    • StoneyCurtisll August 8th, 2016 at 20:59

                      Bites lower lip…
                      I feel your pain..:)

                    • TiredOldGuy August 8th, 2016 at 21:06

                      My dad worked at old Crosley Field when I was a kid and I spent most of my summers there getting autographs – Pete Rose signed rookie card, Hank Aaron, Don Drysdale, Sandy Koufax, Willie Mays, Stan the Man, all the greats. While at college my Granny figured that I had outgrown them and threw them all away. I cried for a week.

                    • StoneyCurtisll August 8th, 2016 at 21:11

                      OMG…
                      What a bummer…
                      Think how much…never mind….
                      If only we could go back in time….

                    • anothertoothpick August 8th, 2016 at 21:17

                      As I am sure you know Crosley was also the number one radio manufacturer of the time..

                    • TiredOldGuy August 8th, 2016 at 21:24

                      And at one time broadcast at 500,000 watts. In clear weather it could be heard nationwide.
                      He also produced the first compact car. Being so tall, he couldn’t get into it.

                    • anothertoothpick August 8th, 2016 at 21:28

                      How true. They should have stayed out of auto manufacturing, but that was his dream, even before building radio’s.

                      I got a guy that is the proud owner of one of those Crosley Cathedral type radio’s.. it is a work of art. But not very good reception.

                      Tubes!!!!!

                    • TiredOldGuy August 8th, 2016 at 21:33

                      It really is. I volunteered at the Red’s Hall of Fame a few years ago and they have one on display.

                    • anothertoothpick August 8th, 2016 at 21:20

                      I would have traded you two Ernie Banks rookie and one Pee wee Reese for that Kofax card.

                    • TiredOldGuy August 8th, 2016 at 21:30

                      And I would have laughed at you. I already had an Ernie Banks.
                      Do you remember when Willie Mays tried to extend his career by playing for the Mets? He fell trying to run up the Crosley terrace. I was there (’72 or ’73) – no one laughed, it was sad watching a legend fade.

                    • anothertoothpick August 8th, 2016 at 21:36

                      I remember seeing the picture of old Willie on his knees in the outfield..

                      I was devastated. He waited too long to retire but he probably still needed the money. Those guys did not make much before free agency.

                      In fact Koufax retired just before the big money.

                      Did you have a Richie Allen card??

                    • TiredOldGuy August 8th, 2016 at 21:44

                      Don’t think so.
                      Got autographs of Bob Gibson and Frank Robinson before a game. First time up Robinson hung over the plate like he always did. Gibson threw at his head and Robbie hit the dirt. Second pitch – same result. Down in the count Gibson decided to go for a strike. Robinson hit a line drive right between Gibson’s legs into center field. As he stood on 1st base Gibson looked at him and tipped his cap. I think Robinson had 4 hits that game – truly a classic show.

                    • anothertoothpick August 8th, 2016 at 21:47

                      Wow!

                      Great story about a couple of the greatest ball players.

                    • TiredOldGuy August 8th, 2016 at 21:52

                      Fun talking about something other than Trump and other idiots. Gotta hit the sack now – transfusions tomorrow.
                      Thanks for an enjoyable evening toothpick and Stoney, hopefully catch you tomorrow.

                    • anothertoothpick August 8th, 2016 at 21:52

                      You too..

                • anothertoothpick August 8th, 2016 at 21:04

                  Was it the one with the horn, like this??

                  • TiredOldGuy August 8th, 2016 at 21:10

                    No horn, a lift up top and front based speakers.

                    • anothertoothpick August 8th, 2016 at 21:15

                      My aunt had one with the horn..”and you better !keep your little hands off it”

                      At least that was what she always told me..

                    • TiredOldGuy August 8th, 2016 at 21:18

                      Can’t copy and paste for some reason.
                      He and I sanded down the rough spots and rubbed that sucker with mineral oil for a week – looked brand new.

                    • anothertoothpick August 8th, 2016 at 21:30

                      I’ll bet she was a beauty

            • StoneyCurtisll August 8th, 2016 at 20:40

              Music like this?…
              Carl Perkins..
              https://www.youtube.com/watch?v=euurSWLZxXs

  6. amersham1046 August 8th, 2016 at 16:55

    But the Tea Baggers believe him

    • Larry Schmitt August 8th, 2016 at 18:01

      And all the debunking and all the facts in the world won’t change their minds.

      • StoneyCurtisll August 8th, 2016 at 20:04

        Brainwashing is hard to reverse…
        It’s like a bad drug habit, it’s hard to kick.

        • crc3 August 8th, 2016 at 21:41

          First you have to have a brain to wash which I doubt they do. The actual fact is they are dimwits who can’t differentiate right from wrong or truth from lies…

  7. mistlesuede August 8th, 2016 at 18:45

    Hillary will have her chance to set the record straight on Thursday during her economic speech.

  8. Roctuna August 8th, 2016 at 18:48

    If Herr Drumpf’s claim of 42% unemployment were to be true, I’d ask one of his supporters, “Are 4 out 10 or your buddies from the shooting range unemployed?” Do you think any of them are capable of providing a coherent answer?

    • Obewon August 8th, 2016 at 23:43

      Conspiracy theorists like Donnie ignore that the BLS U-6 unemployment rate of 9.6% is all inclusive.

      U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force. http://www.bls.gov/news.release/empsit.t15.htm It’s obvious team Trump is functionally illiterate.

  9. StoneyCurtisll August 8th, 2016 at 20:03

    Trickle Down..
    The same old, same old republican failed plan…
    It has destroyed the budget in Kansas…

  10. StoneyCurtisll August 8th, 2016 at 21:17

    Papa Bush 41 called this Voodoo Economics…
    It’s the same failed plan that hasn’t worked, and never will…

  11. amersham1046 August 9th, 2016 at 12:44

    If you don,t have the facts , just make them up , and make them faster than your opponent can disprove them

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