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What “Trump Tax Cuts for the Rich?” the Wealthy Paid More Taxes, Not Less

Yesterday’s Hotline reported the surprising news that the richest one percent of Americans now pay a higher share of the income tax burden than ever before.

This new data tells something else surprising: the Trump tax cuts led to the rich paying more not less of the tax burden.

Prior to the Trump tax cut the richest 1% paid roughly 40% of the income taxes. Now they pay more than 45%. This really isn’t all that surprising. The chart also shows that the top 1% paid more of the tax burden after Reagan cut the highest income tax rate from 70% to 28%.

Will these facts stop Joe Biden from whining about the Trump tax cuts “for the rich?” Of course not.

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