Here’s how to know a Republican president has scored big on a proposed tax reform: Read the New York Times —and chuckle.
The newspaper’s headline Wednesday lectured: “White House Proposes Slashing Tax Rates, Significantly Aiding Wealthy.” The story said that Donald Trump had offered a “radical reordering of the tax code,” though one that he “rushed” so as to “show progress before the 100-day mark of his presidency.” The proposal was but a “skeletal outline” and “less a plan than a wish list.” It contained “no explanation of how the plan would be financed.” And, oh, it would “richly benefit Mr. Trump” personally. This was a news article, by the way, not an editorial.
The president’s tax proposal—a big, swashbuckling vision for enacting pro-growth principles—offends many on the left by its very nature. Within a few minutes of its release, liberal economists, politicians and pundits were ripping it as a payoff to the wealthy, a deficit buster, regressive, unrealistic. That alone is proof Mr. Trump is getting the policy right.