When the Truth Hurts, Just Make Stuff
Up
Now that the lies about health care
have helped doom the Republican attempts to take health insurance
away from millions the lies about tax cuts will emerge.
Here is just a brief sample on the Estate Tax.
President
Trump’s speech on the administration’s still-somewhat-vague tax
plan, delivered in Indianapolis on Sept. 27, was filled with many of
his favorite, inaccurate claims. For instance, he repeatedly says he
is offering the “largest tax cut in our country’s history,” a
dubious claim when properly measured as a percentage of the nation’s
gross domestic product. Here’s a sampling of other inaccurate
claims — and one case in which he appears to have adjusted his
language because of our previous fact checks.
“To protect millions of small businesses and the American farmer, we are finally ending the crushing, the horrible, the unfair estate tax, or as it is often referred to, the death tax.”
The
president’s suggestion that “millions” of small businesses and
farms are affected by the estate tax is absurd. According
to the nonpartisan Tax Policy Center,
only about 5,500 estates in 2017 — out of nearly 3 million
estates — would have to pay any taxes. About half of estates
subject to the tax would pay an average tax of about 9 percent.
That’s because for a married couple, about $11 million is exempt
from taxation.
Only
80 — that’s right, 80 — of taxable estates would be farms and
small businesses.
The repeal of the Estate Tax will
benefit just a few billionaires and multi-millionaires, or rather
their children. Who might that be? Well there names are Eric,
Donald Jr. and Ivanka for example.