President Trump’s column “Morning in America dawns again” contained numerous misleading assertions:
- He said his plan is aimed at middle-class families. In fact, the richest 1% (people making more than $900,000 a year) will receive 80% of the tax cuts by 2027.
- He said the U.S. is “among the highest-taxed nations in the developed world.” In fact, among advanced economies, we rank 32nd out of 35 in tax revenue as a share of our economy.
- He claims that one of the tax cuts in his plan is for “small and medium-sized businesses.” It’s actually a new loophole for wealthy business owners like Trump himself that leaves out the vast majority of businesses.