During his first State of the Union address on Tuesday night, President Joe Biden took a shot at former President Donald Trump and claimed his tax cuts only benefitted the richest Americans.
"The previous Administration not only ballooned the deficit with tax cuts for the very wealthy and corporations, it undermined the watchdogs whose job was to keep pandemic relief funds from being wasted," Biden said.
Biden's claims the Trump tax cuts only benefitted the wealthy and corporations are not true. In fact, the top one percent, especially in Democrat states like New York and California, paid more.
Biden lied last night about the Trump Tax Cuts - they didn’t cut taxes for the rich.
— Stephen Moore (@StephenMoore) March 2, 2022
In fact, 99% of Americans saw their taxes go down, while the top 1% paid a higher share.
Even The New York Times admits most Americans benefitted from Trump's tax plan.
Experts are divided on whether the tax law was a good idea. But there is little disagreement on this core point: Most people got a tax cut.
The Joint Committee on Taxation — Congress’s nonpartisan team of tax analysts — found that every income group would see a tax cut on average. So did the Institute on Taxation and Economic Policy, a left-leaning think tank that was sharply critical of the law. In fact, that group went even further: In a December 2017 analysis, it found that every income group in every state would pay less on average under the law in 2019.
Biden has made this false claim before, earning him four Pinocchios from The Washington Post.
"The biggest problem is Biden's sweeping declaration that 'all of it went to folks at the top and corporations that pay no taxes.' That's simply wrong," the paper found. "Biden, with his loose language, ends up in the Four-Pinocchio territory. He asserts that no Americans but those at the top received any tax cut in 2018, which is clearly false. Most Americans received a tax cut."
