Kamala Harris said at two recent campaign events that the Tax Cuts and Jobs Act only helped the “top one percent and the biggest corporations in this country,” even though evidence shows that it helped most Americans.
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“He said he was gonna help working American families and working families and working people, then passes a tax bill that benefits the top one percent and the biggest corporations in this country,” Harris said at a campaign event in Sioux City, Iowa on July 5.
“Lets look at the rap sheet, shall we? Let’s look at the facts. [He] promised working class people that they would be helped, but then he passes a tax bill benefiting the top 1% and the biggest corporations,” Harris said during a campaign event in Des Moines, Iowa on July 3.
The Washington Post gave Joe Biden four pinocchios when he made a similar claim: “All of it went to folks at the top and corporations,” he said.
In its fact check, the Washington Post stated: “Most Americans received a tax cut.”
The New York Times also flatly stated: “Most people got a tax cut.”
CNN’s Jake Tapper did his own fact check and concluded: “The facts are, most Americans got a tax cut.”
FactCheck.org stated: “Most people got some kind of tax cut in 2018 as a result of the law.”
The NYT also stated: “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.”
Kamala Harris is misleading Americans and lying to them, and she isn’t shy about her intent to repeal the Tax Cuts and Jobs Act.
“On day one, we gonna repeal that tax bill that benefited the top one percent and the biggest corporations in this country,” she said on May 5.
Harris’ promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:
A family of four earning the median income of $73,000 would see a $2,000 tax increase.
A single parent (with one child) making $41,000 would see a $1,300 tax increase.
Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax.
Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
The USA would have the highest corporate income tax rate in the developed world.
Taxes would rise in every state and every congressional district.
The Death Tax would ensnare more families and businesses.
The AMT would snap back to hit millions of households.
Millions of households would see their child tax credit cut in half.
Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.
More examples of the benefits stemming from the tax cuts are shown in a recent H&R Block report, which states, “overall tax liability is down 24.9 percent on average.”
In Iowa – the state she made this statement – residents received a 24.0% tax cut.