This is a garbage piece taken completely out of context.
Reagan wanted tax cuts and tax reform but he had to get it through a democrat controlled Congress.
Reagan agreed that in return for cuts and simplification to individual and corporate income taxes, that a PRINCIPLE OF REVENUE NEUTRAL would be agreed to.
Revenue neutral meant democrats in Congress could go about and find every tax credit and loophole they could find and eliminate them.
Donald Trump was speaking about the elimination of the passive investor tax credit which ended up devastating the building industry and also helped spawn the S&L Junk Bond crisis as investors went shopping for alternative investment vehicles.
>> Donald Trump was speaking about the elimination of the passive investor tax credit <<
Yes, that credit was exactly the kind of rigged, special-interest loophole that should be opposed by anybody with an informed commitment to free-market capitalism. It was a classic example of the government’s arbitrarily favoring one type of investment over another, a gimmick which made millionaires and billionaires out of some real-estate operators who knew how to exploit the complicated rules of the old system. We should applaud its elimination.
(And for the life of me, I can’t figure out why Mr. Trump would have opposed eliminating this notoriously rigged gimmick in the tax system, because he clearly is against any kind of system that has complicated and exploitable features.)