While cutting taxes for the rich by decree may seem like an overwrought parody of Trump’s specific governing ethos, this idea has actually been on the wish list of Wall Street conservatives for decades: The George H.W. Bush administration examined and rejected the idea all the way back in 1992. None other than Larry Kudlow, director of Trump’s National Economic Council, has been a longtime proponent, which may help explain why this plan for a glorified bank heist is enjoying new life today.
Jordan Weissmann
