In the first presidential debate of 2024, tax policy — and who it really benefits in this country — were among the issues most fiercely debated by Donald Trump and President Biden. Trump repeated his vow to extend his 2017 tax cuts and falsely claimed that Biden wants to raise taxes “by four times.” Biden shot back by describing how Trump’s tax cuts “rewarded the wealthy” and that he just wants them to “pay their fair share,” since he’d raise taxes only on those earning over $400,000 a year.
While cutting taxes for the rich may be out of step with a majority of American voters — 60% of whom feel that wealthy people don’t pay their fair share, per a Pew Research poll in April — Trump often touts his tax cut promise, especially when he’s in front of audiences made up of major donors and corporate executives.
