Other administration officials and House Speaker Paul Ryan, R-Wis., have also claimed that their primary objective in reconfiguring the tax code is to help the middle class, not the wealthy.
It cuts the top personal income tax rate; eliminates estate taxes, which currently befall only estates worth at least $5.5 million; kills the alternative minimum tax; and slashes rates on pass-through income. The White House has lately even made the absurd claim that its enormous, unfunded corporate rate cuts are primarily about helping the middle class.
On Monday, the president’s Council of Economic Advisers released a report claiming that corporate tax cuts would boost the average household’s income by at least $4,000.