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These 7 charts show Trump’s tax cuts still haven’t been the economic ‘rocket fuel’ he promised, 2 years after the fact

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These 7 charts show Trump's tax cuts still haven't been the economic 'rocket fuel' he promised, 2 years after the fact

Two years ago, President Trump accomplished his signature legislative achievement: the Tax Cuts and Jobs Act.

The law was the biggest overhaul to the nation’s tax code in three decades, and the president pitched it as “rocket fuel” for the American economy. It permanently slashed the corporate tax rate to 21% from 35% while also providing temporary benefits for individuals and their families.

Critics argued it was a windfall for massive corporations at the expense of the middle class. Meanwhile, supporters of the tax cuts contended it would unleash an economic bonanza. Businesses would invest in their operations, they said, resulting in improved worker productivity and higher wages.

Treasury Secretary Steve Mnuchin, among others, said the law would juice the nation’s gross domestic product to 3% (or more, as Trump said 6%) and soon pay for itself and spread prosperity.

But the law has achieved none of the ambitious goals that Republicans put forward – and there are scant signs they ever will. […]

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