In an op-ed in the Milwaukee Journal Sentinel on Sept. 3, Donald Trump wrote, “In 1986, President Ronald Reagan” cut the business tax rate to 34 percent and “it worked – our economy boomed, the middle class thrived and median family income increased.”
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In a Journal Sentinel op-ed, Trump said: “In 1986, President Ronald Reagan” cut the business tax rate to 34 percent and “it worked – our economy boomed, the middle class thrived and median family income increased.”
Some economists say the corporate rate reduction, from 46 percent, did help lead to economic growth and higher income. But it wasn’t necessarily any more important than a cut – from 50 percent to 28 percent – in the top individual income tax rate that was part of the same 1986 package that included other tax changes, as well.
More importantly, many other factors beyond tax cuts – demographics, immigration, trade policy and more – bear on the economy.
Trump’s statement contains only an element of truth – our definition of Mostly False.
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