Regardless of political party, elected officials like to tout their support of working families. But when it comes time to turn campaign trail promises and stump speech rhetoric into action and results, there’s usually a disconnect. “Working families” are used as the sizzle, but the wealthy usually get the steak.
This stark bait-and-switch was on full display with the 2017 “Tax Cuts and Jobs” Act (TCJA). Billed as a way to help workers and create jobs, the federal tax law really helped wealthy residents and corporations get richer. In Michigan for 2019, more than half of the tax benefits of the TCJA went to the richest five percent of Michiganders. And according to the national Institute on Taxation and Economic Policy, the average tax cut for 2020 will be a mere $50 for the state’s 20 percent lowest earners, and stays in the hundreds or less for more than half of the state’s earners.