Donald Trump scored a much-needed win Monday by focusing on his tax plan in a major policy speech.
It was such a win, in fact, that the New York Post declared that both parties should embrace it.
Adam Brodsky wrote for the Post Monday night:
In Monday’s speech laying out his economic vision, the billionaire businessman called for “the biggest tax revolution since the Reagan tax reform.”
He vowed to slash income taxes wholesale, cut the nation’s top corporate tax rate (now among the highest in the world among industrialized nations) by more than half, and end the death tax, to boot. He’d also simplify the tax code. (Hallelujah!)
More details to come, he promised, and it’ll be interesting to see how he pays for it all. But Trump’s impulse to roll back taxes to jump start the economy is hopeful news.
Indeed, it’s something both Democrats and Republicans can support — or should, anyway.
Why should Democrats support Trump’s plan, according to Brodsky? He writes:
But liberals also think deficits stir demand and boost the economy; they just like to create those deficits with spending rather than tax cuts. President Obama, recall, raised taxes — but jacked up spending more, doubling the debt.
So even if Trump can’t pay for his tax cuts by trimming outlays (or with more revenue from a juiced-up economy), liberals should be fine with any deficits that result.
Trump actually introduced his tax plan relatively early in the primaries, but many people had no idea what was actually in it. I wrote from the Wisconsin primary (during a bleak phase in the campaign that Trump managed to bounce back from):
It’s shocking how few people, even conservatives, know anything about Donald Trump’s tax plan. Trump’s tax plan closes corporate loopholes while slashing business and personal tax rates across the board, giving poor people who make less than $25,000 a year (or $50,000 for married couples) the privilege of not having to pay any income taxes. It sounds pretty conservative to me.
To be fair, Trump should have been promoting his tax plan like crazy when he was running against Ted Cruz so as to stave off the #NeverTrump movement, which claimed that Trump was not conservative enough.
Grover Norquist of Americans For Tax Reform defended Trump against other conservatives in June by praising Trump’s tax plan.
Norquist pretty much made his political career pushing for Reagan’s second-term tax reform bill and then just kept going with his anti-tax advocacy.
The Norquist support is pretty clutch, but it’s less important in this general election. But there is definitely an opportunity for Trump here, as the New York Post recognizes.
On the one hand, the plan is a conservative tax-slashing program that tops Reagan. On the other hand, it helps out the poor and closes corporate loopholes.