Gary Cohn: ‘We’re Going to Tax More Revenue and Income But at a Lower Rate’

EXCERPT:

ROSE: "Do you believe you can make it up by simply eliminating deductions, the giant difference between the tax cuts and what you need to make up for them? You can do that with deductions?" 
COHN: "We can broaden the base significantly. We’re going to tax a lot more revenue and a lot more income but we'll tax it at a lower rate. Instead of taxing at a high rate but subtracting a lot to get to the taxable income, we’re going to tax a much bigger number at a smaller rate. Yes, we believe we can make that work."