Fact Check: Industry-Financed Study Gets President’s Tax Cuts Wrong
"Below is an analysis by Jason Furman, Principal Deputy Director of the National Economic Council, highlighting the major flaws, errors and misleading statements in the study:
* The study fallaciously assumes that the tax cuts are used to finance additional spending, ignoring the benefits of what the President actually proposed which was to use the revenue as part of a balanced plan to reduce the deficit and stabilize the debt. The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."
Fact Check: Industry-Financed Study Gets President