Ready for More Lies? Here Comes Trump and the Republicans on Tax Cuts

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.