IRS Data Proves that Trump’s Tax Cuts Benefitted the Middle Class the Most

Democrats spent four years attacking Trump’s tax cuts saying that they were bad for America. But now the data proves that Trump’s tax cuts benefited the Middle Class the most.

Meanwhile, Joe Biden’s disastrous budget would raise taxes on the same people Trump helped.

Per the Washington Examiner:

However, the most recent personal income tax data from the IRS prove that this claim is completely false. The 2017 tax law has disproportionately benefited lower- and middle-income working families. The data show the law has also led to substantial improvements in economic mobility for middle-income and upper-middle-income households.

A careful analysis of detailed tax data from 2017 and 2018, the first year the TCJA went into effect and the most recent year for which detailed IRS income data are available, reveals that over just one year, households with an adjusted gross income of $15,000 to $50,000 saw their total tax bills cut by an average of 16% to 26%, with most filers enjoying at least an 18% tax cut. Similarly, filers earning between $50,000 and $100,000, one of the largest groups of taxpayers, experienced a 15% to 17% tax cut, on average, from 2017 to 2018.

Higher-income households also experienced sizable tax cuts, but not nearly as large as the tax reductions provided by the law to working and middle-class families. Those with AGIs of $500,000 to $1 million, for example, had their taxes cut by less than 9%, and filers earning $5 million to $10 million received a 3.4% cut, the lowest of any bracket provided by the IRS.

This proves the Democrats to be liars. They have spent five years saying that Trump’s tax cuts only benefited “the rich.”

Democrats are always proven to be liars.

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