by Calculated Risk on 8/20/2019 12:30:00 PM
Tuesday, August 20, 2019
Yesterday I wrote: The Failed Promises of the 2017 Tax Cuts and Jobs Act (TCJA)
I included this quote:
"This change, along with a lower business tax rate, would likely give the typical American household around a $4,000 pay raise." Donald Trump, October 19, 2017
However I didn't provide any analysis of the $4,000 number.
Here are two articles with analysis (ht JF)
From Motley Fool: Want a Tax Cut? Here's How Much Typical Americans Saved in 2018. The analysis suggests around $1,600 to $1,900, not $4,000.
And from the Heritage Foundation: The Truth About How Much Americans Are Paying in Taxes.
"the average American household paid about $1,400 less in taxes"