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Chief White House economic advisor Gary Cohn rejected arguments that the administration’s tax plan will benefit the wealthy most.
In fact, Cohn told CNBC that simplifying the tax code actually could mean higher earners would pay more.
“Simplification does not mean tax cuts for the higher end of the bracket. We can simplify and we can get ride of a lot of the deductions,” he said in a live interview Friday morning. “Those deductions actually affect the high bracket-payers, so when you actually simplify that tax returns you’re actually affecting the high taxpayers the most.”
