Putting the political dessert before the vegetables, the Trump administration Wednesday announced a plan for massive business and personal tax cuts, but provided only vague indications of how to pay for them.
While Treasury Secretary Steve Mnuchin promised that the tax cut “will pay for itself with (economic) growth” and with the elimination of different deductions and closing loopholes, he declined to provide any numbers.
“Today we’re putting out core principles,” he said.
The tax reform package, which Trump had promised since early in his 2016 presidential campaign, is about “creating jobs and creating economic growth,” Mnuchin said at a White House news conference. “And that’s why massive tax cuts and massive tax reform and simplifying the system is what we’re going to do.”
Read the whole story in the San Francisco Chronicle