The Missing Treasury Analysis of the Republican Tax Plan Has Finally Been Released

Good news! Treasury Secretary Steve Mnuchin has promised repeatedly that the Republican tax plan would pay for itself and that he has hundreds of analysts “working around the clock on running scenarios for us.” Naysayers scoffed, wondering where this analysis was. Well scoff no more. He released it today. Here’s the first page:

Wait. Did I say “first page”? What I meant was “whole thing.” That’s right: it’s seven paragraphs long and contains no original analysis at all. It basically says two things:

  • The analysis from the Joint Committee on Taxation is correct.
  • Tax revenue will rise if we assume 2.9 percent economic growth.

Seriously. That’s it. I included the entire plan above so you could check to make sure I’m not exaggerating. There’s literally no analysis at all. The Treasury Inspector General has already promised an investigation into the missing report that hundreds of people were supposedly working on, and after seeing this I really, really want to see what the IG comes up with. The only plausible scenarios are either (a) nobody was ever doing any serious analysis, or (b) they did a serious analysis and the results were too catastrophic to be released.  So instead we got a one-page report cribbing from JCT and explaining that tax revenues will rise if economic growth skyrockets. A tenth grader could have written this.

Welcome to the Trump era, folks.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Truth #5: It's about minority rule.

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Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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