The Proof Is in the Pudding: IRS Data Show Trump’s Tax Cuts Benefited Middle- and Lower-Income Earners More Than the Wealthy

Four years after President Donald Trump and congressional Republicans passed the Tax Cuts and Jobs Act (TCJA) into law, IRS data prove the historic legislation benefited those in the working- and middle-classes more than the wealthy.

Of course, this fact belies the left’s relentless lies about TCJA being a massive tax cut for the ultra-wealthy while ripping off hard-working Americans. //

“IRS data further show that the Tax Cuts and Jobs Act appeared to have a strong upward effect on economic mobility. The number of filers with an adjusted gross income of $1 to $25,000 decreased by more than 2 million in just one year, while the number of households reporting incomes higher than $25,000 increased in every income bracket.” //

“The IRS data also revealed that higher-income earners paid an even larger share of the total tax burden in 2018 than they did in 2017, indicating that the Tax Cuts and Jobs Act may have made the tax code slightly more progressive,” Haskins writes.

The proof is in the proverbial pudding: “In 2017, filers earning $500,000 or more paid 38.9 percent of all personal income tax revenues. In 2018, the same income bracket paid 41.5 percent of total income tax revenues.”