Saturday, March 25, 2017

Tax Reform Easier Than Obamacare Repeal?

Secretary of the Treasury Mnuchin is optimistic about getting tax reform done by August--he says:
""We're able to take the tax code and redesign things, and I think there is very, very strong support," he said. "I think in healthcare, it's [a] much, much more complicated issue, where you start out with ObamaCare, which had all these issues, and you're trying to kind of get rid of it and make changes simultaneously.""
Minority Leader Pelosi was talking "rookie day" yesterday, mocking the difficulties the Republicans were having with healthcare.  I'd call Mnuchin another "rookie", given his optimism.  I remember the problems Reagan had in the 1980's with his tax reform, back in the days when he had Sen. Bill Bradley and Rep. Danny Rostenkowski in Congress to get the necessary Democratic votes.  Even with those advantages there was a lot of cliff hanging and logrolling and the final package came up short of the initial promises.

Remember, while healthcare affects 1/6 of the economy, taxes affect the whole thing.

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