December 6, 2016

GET RID OF ALL OF THEM:

Team Trump's New Pledge on Tax Cuts (David Leonhardt, DEC. 6, 2016, NY Times)

Last week, though, Steven Mnuchin said something unexpected on CNBC, in his first interview after becoming Donald Trump's choice for Treasury secretary. A friendly host invited Mnuchin to respond to the liberal charge that Trump's tax cut was a sop to the rich. Mnuchin, a financier and former Goldman Sachs partner, refused -- and made news instead.

"It's not the case at all," he said. "Any reductions we have in upper-income taxes will be offset by less deductions, so that there will be no absolute tax cut for the upper class. There will be a big tax cut for the middle class, but any tax cuts we have for the upper class will be offset by less deductions that pay for it."

This is now a clear standard by which any Trump tax cut should be judged.

The plan that Mnuchin described would set Trump apart from the Republican establishment that he thumped in the primaries. It would be consistent with Trump's working-class base. It would even be a policy that Democrats could feel comfortable working on.

Posted by at December 6, 2016 5:52 AM

  

« WE DON'T HAVE ANYWHERE NEAR ENOUGH DEBT: | Main | TIMELESS VS. TRENDY: »