Big changes are proposed in what the Trump administation is calling one of the biggest tax cuts in history. Bloomberg has some of the details: White House Unveils Trump’s Opening Tax-Cut Bid.

+ “A white cloth napkin, now displayed in the National Museum of American History, helped change the course of modern economics. On it, the economist Arthur Laffer in 1974 sketched a curve meant to illustrate his theory that cutting taxes would spur enough economic growth to generate new tax revenue.” Treasury Secretary Steven Mnuchin says that the newly announced Trump “tax plan will pay for itself with economic growth.” From The Boston Globe: An economic theory from the ‘70s comes to life once again.

+ WaPo: Trump’s tax proposal: What it means for the rich, for the world and for you.