FactChecking Trump’s Tax Speech

[ Originally published on this site as post ]

In a speech on changing the tax code, President Donald Trump offered some political spin on the facts.

Trump claimed “anywhere from $3 trillion to $5 trillion” of profits are left overseas by U.S. companies to avoid U.S. taxes. But his own press office cites an estimate of $2.6 trillion in a fact sheet posted online the day of his speech. The group that published that number told us $5 trillion “seems impossibly high.” The president compared apples to oranges in saying the U.S. just had a 3 percent growth rate in gross domestic product — that’s for the quarter — while “on a yearly basis” under the Obama administration, growth “never hit 3 percent.” Quarterly GDP growth exceeded 3 percent eight times under