But lower whose taxes and by how much? Trump didn’t say and didn’t provide any hint as to whether the bill would, as past versions have, include giant tax cuts for the rich. He did suggest he wanted a 15 percent corporate tax rate, but didn’t say that was a must-have. Will his tax plans be revenue neutral (in conjunction with spending cuts) even with generous “dynamic scoring” or has the GOP thrown in the towel on the debt? Trump did not say and may not know. Instead we got bromides such as: “We believe that ordinary Americans know better than Washington how to spend their own money and we want to help them take home as much of their money as possible and then spend it.”

At times his pronouncements sounded thoroughly vapid. (“I want to work with Congress — Republicans and Democrats alike — on a plan that is pro worker and pro American.”) He stressed relief for middle class tax cuts, but didn’t say who he thinks is “middle class,” how much taxes would be cut, what deductions would remain and whether the rich would get an even bigger tax cut. At times it had the air of a book report from someone who plainly had not read (or even found) the book. (“Our tax system should benefit loyal, hard-working Americans and their families,” he intoned.)

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In conceding his economic plans are almost entirely based on tax reform (“The foundation of our job creation agenda is to fundamentally reform our tax code for the first time in more than 30 years”) he revealed how thin and antiquated is the GOP’s economic agenda. Truth be told, Republicans haven’t had new ideas since the 1980s so they keep pulling the old tax cut playbook off the shelf, ignoring the huge differences between the economy in 1980 and the economy of today (e.g., growing income inequality, adaption to a globalized economy, a mismatch between workers skills and available work, declining productivity). They continue to ignore a growing body of research that suggests tax cuts don’t necessarily produce growth. (We know they do not pay for themselves.) With unemployment at 4.3 percent and second quarter gross domestic product growth adjusted to 3 percent, what is the justification for a big tax cut? They don’t ever make the case; they simply assume the need for huge tax cuts is self-evident.

Aside from the economic question marks, it is far from clear that the GOP has the political wherewithal to get tax reform done this year — especially since there apparently is no specific legislation yet. If Congress is to pass tax reform by reconciliation, it will have to conform to the rule that it cannot add to the deficit beyond the 10-year budget window. That has re-stimulated talk of temporary tax cuts, which displeases many conservatives and becomes nonsensical in the context of business tax reform designed to spur investment. Without clearing that legislative hurdle the GOP would need eight Democratic votes to get by a filibuster, which no one thinks is feasible.

It’s telling that Democrats are far more specific about what they won’t accept than Republicans are about what they will include. In a press call Wednesday, Senate Minority Leader Chuck Schumer (D-N.Y.) set out his requirements. “First, we believe that tax reform shouldn’t increase the tax burden on the middle class, and there should not be a tax cut for the wealthiest one percent of Americans, period. Not one penny of tax cuts should go to that top one percent.” He continued, “Second, we believe that tax reform should go through regular order so that both Democrats and Republicans have an opportunity to craft a bipartisan package that’s good for the American people. The Republicans have already seen what happens when they go it alone in a partisan way, with health care.” Ouch! And finally, sounding more fiscally conservative than the Republicans, Schumer said that “tax reform should not add to the deficit.”

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