Did the Republican Tax Cuts only help the Wealthy?

The GOP tax bill “explained” by CNN

The Claim: A large tax cut for Americans was one of the first pieces of legislature in the Trump administration and the Republican controlled Congress. But many criticized it for being a tax cut on the wealthy that doesn’t help the average American. (occurred December 18, 2017)

Tax cuts are a constant battle between Democrats and Republicans. We can argue about whether or not a tax decrease on the super rich in this country help everyone, but this article is to determine the effects of one specific tax cut on the average American. The “Tax Cuts and Jobs Act” of 2017 was aimed to lower taxes from the Obama Administration. Here was the outcome (according to the Heritage Foundation):

  • 9 out of 10 Americans got a tax cut
  • The average American household paid $1,400 less in taxes in 2018
  • A married couple with two children paid $2,917 less in taxes
  • The tax rate for people making $50,000 dropped from 25% to 22%
  • The tax rate for a married couple with $75,000 dropped from 15% to 12%
  • The child tax credit doubled from $1,000 to $2,000
  • The tax plan also repealed the individual mandate of the Affordable Care Act (Obamacare). This removed the law that forced individuals to buy insurance whether or not they wanted it.
Middle Class income under Trump saw significant increases (Wall Street Journal)
Household Income of all races hit record high numbers under Trump

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