Understanding how different administrations shape U.S. tax policy is key to making sense of today’s economic unrest. Over the past several decades, presidents from both political parties have implemented major tax cuts, tax increases and sweeping reforms that continue to influence federal revenue, consumer spending, and, more specifically, your wallet.
Currently, Donald Trump’s tax policies, compared to those of other presidents who enacted some of the largest tax hikes and biggest tax cuts in modern history, may not put him in the history books, but it is interesting to see when and if history is repeating itself.
