News Headlines

IRS Data Proves Trump’s Tax Cuts Benefitted the Middle and Working Class!…

Trump is seen as the President of the people by his supporters and now by his haters because the IRS has proved that his Tax Cuts benefitted both the middle and the working class as he promised. 

• As the Democrats try to pass their disastrous Build Back Better Agenda, they have uncovered something they are not too happy about…

• As Biden scrambles to have his horrible agenda passed by getting Sinema and Manchin on board, some new information has come to light

• Democrats have claimed that Trump’s 2017 Tax reform Law benefitted the Ultra wealthy and corporations; now there is proof that has always been a MYTH! 

• New economic data from the IRS show on average, all income brackets benefitted substantially from the Trump Tax law.

• The biggest beneficiaries of the Tax law was the working and Middle class, not the ultra-wealthy and corporation like the Democrats claimed.

• According to the numbers – 

  • filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018
  • Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent,
  • Those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

• Now the wealthy and Ultra-Wealthy

  • Income groups with an AGI of $500,000 received an average tax cut exceeding 9 percent
  • Income groups with an AGI of $1 million were less than 6 percent. 

• By comparison, the working and middle class enjoyed a double-digit tax cut compared to their wealthier counterparts.

• IRS data also shows earners in higher income brackets contributed a bigger slice of the total income tax revenue

• Fillers in an income bracket with $200,000 or more increased their tax burden in 2018 after the bill became law.

• In conclusion, Democrats Lied, and they knew they lied and continued the lie for four years. 

(Visited 1,305 times, 1 visits today)