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Trump's Tax Cuts End 2024

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tax cuts Donald Trump
Alternet.org

Alternet.org

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Trump’s expiring 2017 tax cuts made income inequality worse and especially hurt Black Americans: study

Alternet.org
Summary
Nutrition label

82% Informative

The Tax Cuts and Jobs Act, a set of tax cuts signed into law during his first term as president, will expire on Dec. 31, 2024 .

Donald Trump promised middle-class benefits at the time, but in practice more than 80% of the cuts went to corporations, tax partnerships and high-net-worth individuals.

David Rothkopf : Trump ’s tax cuts also increased income and wealth disparities by race because those corporate tax savings have gone primarily to wealthy shareholders.

Trump tax cuts hurt low-income taxpayers of all races by abolishing the individual mandate requiring all Americans to have health insurance.

The rate of uninsured Black Americans rose from 10.7% in 2016 to 11.5% in 2018 , following the mandate’s repeal.

The tax cuts also altered how the IRS calculates inflation adjustments for over 60 different provisions.

VR Score

85

Informative language

84

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50

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formal

Language

English

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48

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not offensive

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not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

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e-tax-cuts-and-jobs-act-benefits-u-s-business-owners-and-executives-not-average-workers/https://www.urban.org/research/publication/lessons-learned-studying-structural-racism-national-policieshttps://www.alternet.org/biden-labor/https://www.alternet.org/republicans-trump-tax-cut/https://www.irs.gov/taxtopics/tc503https://www.gettyimages.com/detail/photo/family-playing-with-young-children-in-front-of-royalty-free-image/1821169659?phrase=black%20family%20in%20front%20of%20house&adppopup=truehttps://theconversation.comhttps://www.irs.gov/publications/p936

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