And speaking of cutting taxes, Trump’s 2017 tax reforms were yet again trashed by Biden as “tax cuts for the super rich.” Right. Except that as our friend Andy Puzder points out, taxes paid by the top 1% went up while the other 99% of Americans saw their taxes go down. The top 1% saw their tax share rise from 38% to 40% of all federal income taxes paid.
The average household saved between $1,000 and $2,000 annually on their taxes after the Trump tax plan – and still does. So we’re puzzled how these were a tax giveaway to the rich.