The Hill: Tax Cuts Since 2000 Have Mostly Benefited High Earners
media mentionHouseholds in the top fifth of income levels have received 65 percent of the value of tax changes enacted since 2000, according to a report released Wednesday by the left-leaning Institute on Taxation and Economic Policy (ITEP).
The report looked at significant tax cuts and increases enacted during the administrations of George W. Bush, Barack Obama and Donald Trump.
These include the Bush tax cuts and the permanent extension of most of them, expansions of the earned income tax credit and child tax credit, ObamaCare taxes on high earners and Trump’s tax law passed last year.
“Anyone who is concerned about working Americans — the people who are at the bottom and the middle — would have to conclude that tax policy has not been geared to help them, particularly in the Bush years and the Trump years,” Steve Wamhoff, one of the study’s authors, told The Hill. Read more