In President Trump’s recent speech to Congress, he said very little about his much-anticipated plan for tax reform. One thing he did say was this:
We will provide massive tax relief for the middle class.
This promise was surely met by cheers from coast to coast, as it should have been. But it raises an interesting question: how does a middle-class taxpayer measure whether the President delivers on his promise? Do you simply view the tax cuts for the middle class in isolation? Or must the cuts be viewed in their larger context, relative to those bestowed upon the richest Americans?
Authored by Tony Nitti, Withum Partner and writer for Forbes.com.