The Washington Post ’s False Tax Narrative

News stories are portraying the Republican tax bills as favoring the rich, even though the opposite is true. The GOP cuts would make the tax code more progressive, and the largest percentage cuts would go to middle-income households.TheWashington Postpushed another faulty narrative yesterday. The three layers of headlines on the hardcopy front page were, “Trump’s tax vow taking a U-turn—focus shifted away from middle class—GOP plan evolved into a windfall for the wealthy.” The story’s theme was that Trump originally promised middle-class tax cuts, but House and Senate tax bills have morphed into an orgy of tax cuts for corporations and r ich people.Ridiculous. Business tax cuts have been central to Trump ’s messagesince 2015. He proposed slashing business tax rates to 15 percent and the top individual rate to 25 percent. House Republicansproposed in 2016 to cut the corporate rate to 20 percent and the top individual rate to 33 percent. Trump and House Republicans were elected in 2016 promising large business tax cuts and across-the-board individual rate cuts.Rather than Trump and Republicans “shifting away” from middle-class cuts toward cuts for businesses and the wealthy as thePost claims, it is the opposite. Current House and Senate tax bills have sadly shifted away from pro-growth reforms toward redistribution from higher earners to lower earners.Rather than a “windfall for the wealthy” as thePost claims, the GOP bills would provide larger percentage ...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs