Part of our core mission? Exposing the Left's blatant hypocrisy. Help us continue the fight and support the 2024 Independence Day Campaign now.

May 28, 2024

5 Reasons to Make the Trump Tax Cut Permanent

Almost all the negative claims that Democrats made in opposing the Trump tax cuts in 2017 were proven to be fallacious.

No issue defines the diametrically opposite economic philosophies of Joe Biden and Donald Trump than their position on the Trump tax cuts. Trump wants to make those tax cuts permanent; Biden has repeatedly promised to tax America back to prosperity by repealing the Tax Cuts and Jobs Act. But there are so many factual errors swirling around regarding the Trump tax cuts that it’s a wonder that the “truth screeners” on the internet haven’t flagged this all as “disinformation.”

So, as a public service I will help do their job for them and review “just the facts, ma'am,” using the official government data, on how after five years the tax cuts have impacted jobs, the economy, tax fairness and the simplicity of the tax code.

  1. The Trump tax law was one of the biggest middle-class tax cuts in U.S. history. The Trump Treasury Department calculated that the average family of four saves roughly $2,000 a year. This means, sorry, Joe, repealing the bill would raise taxes for most families making less than $400,000. The House Budget Committee has estimated that the typical family will pay $1,500 more taxes annually if Biden repeals the Trump tax cut.

  2. The Trump tax cuts vastly simplified the tax code for the majority of Americans. A major feature of the bill was to double the standard deduction from $12,500 to $25,000. As a result, prior to the Trump tax cuts, about one-third of tax filers had to itemize their deductions and keep track for the IRS of shoe boxes of receipts and other transactions related to mortgage payments, charitable deductions, interest payments and so on. Now nearly 90% of Americans — and almost all middle-and lower-income families — just check a box of the standard deduction.

  3. The Trump tax bill forces millionaires and billionaires in blue states to pay their fair share of taxes. One of the smartest features of the Trump bill was to cap the deduction of state and local taxes for the super-rich. This allowed millionaires and billionaires in blue states like New York and California to pay billions of dollars less in taxes than an equally wealthy tax filer in low-tax states like Florida and Texas. The old law encouraged states and localities to raise their taxes because it shifted the federal tax burden on to residents of other states.

  4. The Trump tax cut expanded the economy and business activity, which ended up RAISING tax revenues. A study by Heritage Foundation fiscal analyst Preston Brashers examines the impact of the Trump tax cuts after four years and found that the policy changes actually raised MORE revenue in its first four years than the Congressional Budget Office predicted without the tax cut. The House Budget Committee similarly concluded in a May 2024 analysis: “The Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast.” Revenues were $200 billion a year MORE than was predicted before the tax cuts.

  5. The rich paid more, not less taxes after the Trump tax cut. Biden says continually that the major reason the deficit has exploded is that Trump cut taxes on the rich. Wrong. Five years after the Trump tax cuts, the IRS’ own data show the top 1% of earners in America saw their percentage of total income taxes collected rise from 40% to 46% of the total in 2022. This was the LARGEST share of taxes paid by the rich EVER.

The truth is, almost all the negative claims that Democrats made in opposing the Trump tax cuts in 2017 were proven to be fallacious. Rather than admit that they were wrong, they’ve doubled down in their commitment to policies that would raise taxes on virtually every American corporation, small business, family and investor. Perhaps the theme for the Biden campaign should be “Putting America Last.”

COPYRIGHT 2024 CREATORS.COM

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!


The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2024 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.