1. When equities crash, market liquidity floods the bond market causing yields to drop
2. Refinance debt at these lower rates massively reducing interest burden
3. Cut government spending to cause rates to drop further
4. Reduced rates with a balanced budget results in non-inflationary borrowing and an economic upswing
Along the way, eliminate taxes for those earning below $150k.
If all of the above happens at the expense of equity holders so be it.
This plan has been made clear by multiple people from within the administration (namely Bessent who is one of the greatest macro investors of all time).
Now there’s many things to criticize in this plan (and lots of risk and unknown possible second order effects), but to describe it as “genuine chaos” or ineptitude is strange.
My understanding is that the loopholes exist because international trade exists and therefore capital can be juggled through various different states to avoid the tax payments. That is, it's outside the legislative scope of any single set of law makers.
You occasionally see the people jumping between different ideas as to what the underlying plan is, once events no longer support their initial idea.