the trump team’s slapdash tax plan distracts from better ideas

You can see about the trump team’s slapdash tax plan distracts from better ideas news article in this page. if you want read more please login.
in the run-up to the announcement of president trump’s tax reform proposal last week, treasury secretary steven mnuchin spoke of simplifying the tax code to the point where americans could fit their returns on “a large postcard.” the same should not be true of a major presidential policy rollout on such a complex topic — yet that is what mr. mnuchin, accompanied by national economic council director gary cohn, produced. what few details their slapdash one-pager did contain suggest that it would dramatically decrease taxes on those who are best able to afford them — necessitating trillions of dollars in new federal borrowing. essentially, it is the revenue-side equivalent of mr. trump’s earlier plan for spending cuts, “the skinny budget”: an ultra-conservative republican wish list with a good chance of exciting the gop political faithful and almost no chance of becoming law.billed as “the biggest individual and corporate tax cut in american history,” the trump plan rests on the faulty premise that the economy’s woes are somehow due to a crushing tax burden. in the first place, the economy is not doing too badly; despite a lackluster first-quarter growth number......

Login to read more ...

Information