Trump’s tax cuts made the tax code more progressive

Trump’s tax cuts made the tax code more progressive
Chuck Schumer, Nancy Pelosi (Image via Twitter)

[Ed. – Dems can’t be bothered with trivial details. In their world, the Republicans are the enemy, and Donald Trump is Satan.]

Leading Democratic politicians such as … Chuck Schumer … have frequently complained that the Trump tax cuts were nothing more than a giveaway to the 1 percent, further rigging the tax code for those at the top. But the biggest unreported fact about the Tax Cuts and Jobs Act (TCJA) is that it actually made the tax code more progressive.

Indeed, recent data published from the Internal Revenue Service find that the share of income taxes paid by the top 1 percent of filers increased under the first year of the TCJA, while the share of taxes paid by the bottom 50 percent of filers decreased.

These findings come straight from an IRS report that breaks down the tax share of income earners for tax-year 2018. … Among its changes, the TCJA lowered tax rates, nearly doubled the standard deduction, and expanded the child tax credit.

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