Image: Larry Kudlow, left, and Kevin Hassett at an Oval Office meeting in April 2020, during President Donald Trump’s first term.Evan Vucci/AP

Michael Mechanic of Mother Jones: “President Donald Trump apparently wants to cut taxes for the rich yet again. Is this some kind of twisted midterms strategy? Hard to say. But as Timothy Noah points out in The New Republic, the current and former National Economic Council directors Kevin Hassett and Larry Kudlow were on Fox News last week talking about two tax proposals the president is mulling, and both are pretty misguided.

The first one, which they would likely try and sell as a middle-class tax cut, is to expand the current (fairly generous) capital gains exclusion on profits from home sales. Under current law, when a couple sells their residence for more than they paid, the first $500,000 in gains is nontaxable. Kudlow seemed to be advocating for a $2 million exclusion…”

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