The one tangible figure: Trump said he wants to bring the corporate tax rate down to 15%. But as Swan notes, the 15% figure is fantasy: “Nobody who is serious thinks this number is possible. Most tax experts in Washington say Republicans will be doing well to get the corporate rate down to 25%.
- “I want Americans to wake up happy to go to work for a big fat beautiful paycheck… I want them to be proud again.”
- On NAFTA: “Mexico is not happy… but we’ve got to renegotiate this deal and if we cant we’ll terminate it and start over again with a real deal.”
Trump’s four principles for tax reform:
- A tax code “that is simple, fair and easy to understand. That means getting rid of the loopholes and tax benefits that primarily help the wealthy… I’m speaking against myself when I do this.”
- A lower tax rate that will help “give Americans the pay raise they’ve been looking for for many many, years.” Trump also said the corporate tax rate is “too high,” and making the U.S. uncompetitive.