Donald Trump Exaggerated That His Tax Cut Saved Farmers and Ranchers From Estate Tax
Type: Fear MongeringSep 06 2018 Severity: About: Estate Tax
President Trump attended a rally to support Matt Rosendale, a candidate for the Montana Senate. Later in the speech, Trump boasted that his "tax cut saved family farmers and ranchers, and small business from unfair estate tax." The estate tax rarely falls on small business, or farms. Those who leave more than $5 million behind pay it. In 2017, data from the Tax Policy Center, reported 5,500, out of 3 million estates were subject to estate tax, and only 80 of them were farms or small business.
Quote | Told Montana crowd that his tax cut saved the ranchers and farmers from the "Death Tax."
"Our tax cut saves family farms and ranchers and small businesses from unfair estate tax, also known as the death tax,” Trump said at a Montana rally.