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The debate over the Republican tax cut plan comes down to this: Opponents view it as a wasteful giveaway of much-needed government revenue to the wealthiest households and businesses that need it the least. Supporters argue that it will unleash significant economic growth, enough to offset its costs. Full disclosure: I'm in the opposition. The idea of adding $1.5 trillion to the national debt over the next decade, of which almost half (47% of cuts in 2017) goes to the wealthiest 1% (average income: $3.6 million), seems totally misguided. No question, our code needs improvement, especially on the corporate... [Read More]
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