Donald Trump ran for office loudly pledging big tax cuts for the middle class. But the reality coming into focus is a tax plan that on its face offers a bonanza for rich people and could leave most families worse off.
Team Trump has been arguing that this isn’t the case. And for about a week now, they’ve specifically claimed that the corporate tax cut would increase the average household’s wages by about $4,000 per year. Monday morning, Trump’s Council of Economic Advisers, whose chief, Kevin Hassett, is a longtime proponent of this view, released a paper laying out their case.