WOLF BLIZTER (HOST): Earlier in this campaign [Trump] spoke of eliminating the seven current tax brackets: going down to 10 percent, 20 percent, 25 percent. Today, he said he has different numbers: 12 percent, 25 percent, and the highest tax rate would be 33 percent. That represents a shift from some of his earlier positions on this very sensitive issue.
ANNIE LOWREY: It does, but this speech was -- for all that he was giving new policy detail, and for all that he was coming closer to the House Republicans, it was self-contradictory word salad, right? What is complicated about the tax code is not that there's too many different brackets. That's actually a fairly simple part of the tax code. He is giving a huge tax cut to the wealthiest families. His 15 percent tax rate on pass-through income, for instance, he said that that would be for small businesses. Most of the small businesses that are structured as pass-throughs are things like small law are firms that tend to make a lot of money. And again, there's just not that much detail still to look at here. For instance, on the child care proposal, where the way that it sounds like it's structured, that would be huge tax cut for wealthy families.
BLITZER: He did say he would have a lot more to say about that in the coming weeks.
LOWREY: Yeah, at some point.
RYAN LIZZA: I'm grading on a curve.
