One might wonder why Trump reversed himself. The answer is, he really hasn't. Republicans have used the aura of the 1986 Tax Reform Act to promote their tax-cut plans. But what they have in mind now is quite different. The 1986 Tax Reform Act was a bipartisan law, which did not reduce revenue to the government, and actually increased the effective tax rate paid by the rich by eliminating special treatment for capital gains and other tax breaks for the rich. Some Democrats have offered to support legislation along those lines, but the Republican leadership has outright refused.
It's not clear whether Trump realizes the law he praised at length [this week] is the same one he previously accused of destroying the American economy.
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The above quotations are from Promises Kept / Promises Broken Comparison of Trump campaign vs. Trump Administration. Click here for main summary page. Click here for a profile of Republican Party. Click here for Republican Party on all issues.
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