Last week, President Trump, in his preferred manner of speaking in absolutes, said the following when pressed on the pace of tax reform:We have a tax plan that's totally finalized. But first, let's understand the biggest of all the challenges facing tax reform: fitting $5 trillion in tax cuts into a $1.5 trillion budget. Tack this onto the $1.8 trillion corporate tax cut, and we're already at $3 trillion of tax cuts when only $1.5 trillion are permitted by the budget. What poses a much bigger problem, is that these do not represent the entirety of the proposed tax cuts. So unless the GOP wants to really think outside the box -- increase the tax rates on long-term capital gains and dividends, anyone???

Source: Forbes September 27, 2017 15:56 UTC