Steven Mnuchin says tax plan to create ‘jobs, jobs, jobs’ Video

Transcript for Steven Mnuchin says tax plan to create ‘jobs, jobs, jobs’

We are joined now by one of the architects of the president’s plan, treasure secretary Steve mnuchin. Secretary mnuchin, thank you for joining us this morning. Everyone wants to know how this plan is going to affect them. You say it’s all about middle class tax cuts so can you tell the middle class families watching right now, a family of four earning $60,000, how much they’ll save under the president’s plan. First of all, let me say it’s great to be here with you this morning. This is about middle income tax cuts and although we’re not releasing the specific numbers, this is about creating economic effects and tax cuts for the middle class. It’s also about creating tax simplification so that most Americans will be able to fill out their tax returns on a giant postcard. People are tired of way too much complexity, and this is also about making business taxes competitive, which will create American jobs. But don’t the details matter? Why can’t you say how this is going to affect the middle class family? Well, the issue is that we are working with the house and the senate, and our objective is to turn this into a bill that will pass and the president will sign. As you know, the details of taxes are very complicated and we’re committed to working quickly in getting this done. This is about telling the American public what the president’s principles are which are all about economic growth, jobs, jobs, jobs. Can you guarantee that no one in the middle class is going to pay more? That’s our objective, absolutely. Is it a guarantee? I can’t make any guarantees until this thing is done and on the president’s desk, but I can tell you that’s our number one objective in this. How about the wealthy? During the campaign Mr. Trump told me that he thought taxes on the wealthy should go up. Listen. Bottom line, do you want taxes on the wealthy to go up or down? They will go up a little bit and they may go up, you know — But they’re going down in your plan. In my plan they’re going down but by the time it’s negotiated they’ll go up. Does that still hold, when the negotiations are done taxes on the wealthy will go up? Again, the focus right here is lowering the top rate in return for eliminating deductions in special interests and that’s what we’re committed to. This is aboutmaking tax simpler and getting rid of special interests. We’re way too tired of people having special interests and making sure that we create investment. I was asking about the impact on taxes on the wealthy. The president said there he thought the taxes should go up after the negotiations. Right after the elections you said no absolute tax cut for the upper class, any tax cuts will be of by fewer deductions. Are you still promising absolutely no tax cuts for the wealthy? Again, that’s the objective but we’re working with congress, with the house and the senate, we’re having listening sessions, and this is about…

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