LETTER: Trump tax cuts by the numbers
Al Marquis’ May 24 letter repeats the same misleading spin about the Donald Trump tax cuts that has been a favorite among Democrats since Mr. Trump left office. Income data published by the IRS clearly shows that, on average, all income brackets — not just the top 1 percent — benefited substantially from the tax cuts.
The IRS data shows that filers with an adjuster gross income of $15,000 to $50,000 received an average tax cut of about 16 percent to 26 percent in 2018, the first year the cuts went into effect. Filers who earned $50,000 to $100,000 received a tax cut of about 15 percent to 17 percent. And filers who earned $100,000 to $500,000 received a tax cut of about 11 percent to 13 percent. By comparison, no income group earning at least $500,000 received an average tax cut exceeding 9 percent and those in brackets exceeding $1 million failed to receive a tax cut exceeding 6 percent.
Therefore, an analysis of the IRS tax data shows that most middle-income earners enjoyed a tax cut that was at least double than those making more than $1 million.