The president has a habit of exaggerating; this time his exaggeration is the size of his proposed tax cut. (Meg Kelly/The Washington Post)“This now allows for the passage of large scale Tax Cuts (and Reform), which will be the biggest in the history of our country!”— President Trump, in a tweet, Oct. 20, 2017More than 20 times since he became president, President Trump has claimed that the tax plan under consideration in Congress was the largest tax cut in the history of the United States. In fact, Trump’s tax cut would even fall behind Obama’s tax cuts when measured by inflation-adjusted dollars, according to the Committee for a Responsible Federal Budget. Here’s a useful chart put together by CRFB, which labels the Trump tax cut as “Framework.” The group also included an estimate for a 1921 tax cut from a 2012 paper by Christina Romer and David Romer. 20% 20% 20% 20% 20% Pardon the interruption!

Source: Washington Post November 01, 2017 10:04 UTC