The story always goes the same way: See Pat Toomey. Watch Pat Toomey lie!
Morning Joe had Pat Toomey on after he attended a "bipartisan" dinner last night at the White House about tax reform.
As you might expect, the former Club for Growth president and Koch favorite has his talking points. As you also may have guessed, they are completely misleading and mostly fact-free.
The 35% corporate tax rate is an illusion. By the time corporations get done making their deductions, the effective (that is, actual) tax rate is around 12%. That's right: Our corporate tax rate is actually lower than the average Toomey cites.
That's why companies like GE not only don't pay taxes, they get huge refunds and credits.
And it's why they keep piling the cost of corporate tax cuts onto people like us.
See Pat lie!