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1. Tax reform could be a huge, easy win for Trump. He’s choosing to make it hard.
2. Trump could get substantial Dem support for big tax cuts for anyone 250K and below, a big cut to the corporate rate and simplification
3. By attracting Dem support he could make these changes permanent, creating a lasting legacy
4. But (and this hasn’t gotten nearly enough attention) he seems focused on helping himself and his family
5. He proposing a huge cut for pass-thru LLCs, the exact way that the Trump Org is set up. Also eliminates the estate tax
6. The rest of the bill is rife with special exemptions for real estate. All this makes substantial Dem support impossible
7. That means it’s all temporary and he has to make it arguably deficit neutral over 10 years
8. Do has to do things like eliminate the adoption tax credit and the state and local tax deduction to make things work
9. He’s left with a VERY unpopular bill that faces a tough battle in Congress. It didn’t have to be this way
