Feldstein: No Idea What Trump Means by Reciprocal Tax

The video discusses the concept of a border adjustment tax and its potential impact on revenue generation. It explores the idea of eliminating state and local tax deductions to support tax reform, drawing parallels with the Reagan administration's tax cuts. The discussion also touches on the challenges of implementing tax reform quickly and the role of entitlements in the process.

What is a reciprocal tax and how might it generate revenue for tax cuts?

How does the proposed elimination of the deduction for state and local taxes affect high-priced states?

What historical context does the speaker provide regarding tax cuts during the Reagan administration?

What challenges does the speaker identify regarding fundamental tax reform without addressing entitlements?

In what ways does the speaker suggest that future benefits could be gradually reduced?