WATCH: Trump Just Told Business Leaders He’s Cutting Corporate Taxes and Regulations ‘Massively’

Massive Tax Cuts for Business + Killing Obamacare, Medicare, Medicaid + Spending Billions More on Military and Nuclear Weapons = Incredible Deficits

President Donald Trump just sat down with about a dozen business leaders in the White House and promised them massive tax cuts and a 75 percent reduction in regulations. He also claimed he would also be cutting taxes for the middle class and even said that consumers would be better protected with far fewer regulations.

Many on social media noted that the business leaders he chose happen to be almost entirely older white men:

“We are going to be cutting taxes massively, for both the middle class, and for companies, and that’s massively,” Trump told business leaders, noting he’s trying to get the corporate tax rate down to 15 percent to 20 percent, falsely claiming it’s currently 35 percent to 38 percent. (The effective tax rate for many corporations is far less that the often-repeted claim of 38 percent. For instance, as is frequently mentioned, many companies, including United Airlines and General Motors are very profitable but paid no income taxes for 2015).

“We’re going to be cutting regulation massively,” Trump also promised, claiming regulations are “out of control.”

“Now, we’re going to be having regulation, and it will be just as strong and just as good, and just as protective of the people as the regulation we have right now. 

President Trump promised his White House will deliver the best service to businesses, and if they want to build factories those requests will be “expedited.”

Trump did not mention that many of not most regulations businesses must observe are at the state and local levels, nor did he say if the federal government would try to wipe those out.

“We think we can cut regulations by 75 percent, maybe more,” Trump said.

Here’s a much longer version of the above clips:

Trump is working to kill Obamacare, Medicare, and Medicaid, which will create a $350 billion deficit. He has promised to greatly increase spending on the military, and on nuclear weapons, which will create huge deficits. And he is now promising massive tax cuts for businesses and the middle class, which will create huge deficits.