Holtz-Eakin Says Trump Tax Plan Is Built on Fairytale

The transcript discusses Doctor Holtz Eakin's proposal for tax cuts, claiming they would pay for themselves through growth, a notion dismissed by serious economists. It highlights the challenges of real tax reform, which involves making tough choices beyond appeasing the business community. The discussion also covers the administration's initial proposal for a corporate tax rate, seen as a lowball estimate, with expectations of negotiations potentially raising it to 20%. Overall, the proposal is viewed as an opening bid, lacking specifics.

What is the significance of the corporate tax rate mentioned in the discussion?

How is the initial proposal described in terms of specifics?