Market Watch: This is how much American workers saved during the first year after Trump tax overhaul

Focusing on personal taxes didn’t tell the whole story, according to Steve Wamhoff, director of federal tax policy at the progressive Institute on Taxation and Economic Policy, or ITEP.

“The parts of the Trump tax cuts that really benefit the rich are not the personal-income-tax cuts but the corporate-income-tax cuts and estate-tax cuts,” according to Wamhoff. Rule changes surrounding corporate taxes, “which mainly benefit the (mostly rich) people who own corporate stocks, and the estate-tax cuts, are the parts of the law that made it a good deal for the rich,” Wamhoff said.

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