CBS 60 Minutes: “Trump did give the middle class a tax cut.”
Joe Biden lied about the Tax Cuts and Jobs Act during a 60 Minutes interview Sunday, stating that the bill gave middle class families a “negligible” tax cut.
Here’s the key exchange:
Norah O’Donnell: “You’ve said you would repeal all of Trump’s tax cuts. But do you mean just for the wealthy, or for the middle class too? Because Trump did give the middle class a tax cut.”
Biden: “Trump gave the middle class a tax cut that was negligible.”
Thanks to the Trump Republican tax cuts, a family of four earning the median income of $73,000 got a $2,000 tax cut – a 58% reduction in federal income taxes — each year.
A single parent with one child making $41,000 got a $1,300 tax cut – a 73% reduction in federal income taxes – each year.
Biden is wrong in claiming that the middle class received a “negligible” tax cut. If you don’t believe us, just ask the New York Times, the Washington Post, CNN, and FactCheck.org:
CNN: “The facts are, most Americans got a tax cut.”
CNN: “In fact, estimates from both sides of the political spectrum show that the majority of people in the United States of America did receive a tax cut.”
New York Times: “Most people got a tax cut.”
Washington Post: “Most Americans received a tax cut.”
FactCheck.org: “Most people got some kind of tax cut in 2018 as a result of the law.”
FactCheck.org: “The vast majority (82 percent) of middle-income earners — those with income between about $49,000 and $86,000 — received a tax cut that averaged about $1,050.
The New York Times also noted the “sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.”
And now, CBS’s Norah O’Donnell said that “Trump did give the middle class a tax cut.”
Thanks to the Tax Cuts and Jobs Act:
- A family of four earning the median income of $73,000 saw a $2,000 tax cut.
- A single parent (with one child) making $41,000 got a $1,300 tax cut.
- Millions of low and middle-income households are no longer stuck paying the Obamacare individual mandate tax.
- Utility bills across all 50 states went down as a direct result of the TCJA’s corporate income tax rate reduction.
- Small businesses saw a tax decrease because of the 20% deduction for small business income.
- Taxes went down in every state and every congressional district.
Throughout Biden’s campaign, he has repeatedly called for the TCJA to be repealed.
“What I’d be focusing on is eliminating the $1.9 trillion tax cut that [Trump] passed,” Biden said in Cedar Rapids on September 20.
“First thing I would do as president is eliminate the president’s tax cut,” Biden said on June 17.
“First thing I’d do is repeal those Trump tax cuts,” Biden said on May 4.
If you want to stay up-to-date on Democratic candidates and their threats to raise taxes, visit www.atr.org/HighTaxDems
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