The Republican tax plan retreads old, unflattering ground
For generations, the Republican Party has pitched the cure of tax cuts for whatever ails the American economy, and 2017 is no different. In an era of unprecedented disunity within the GOP, the only thing the White House and Congress can seem to agree on is taxes. As President Trump puts it, "Our country and our economy cannot take off like they should unless we dramatically reform America's outdated, complex, and extremely burdensome tax code."
What history says: If tax cuts are what the country needs to generate plentiful jobs and higher wages, it's reasonable to wonder why they didn't have that result when George W. Bush used the same approach in the early 2000s, or in several similar efforts going back to Ronald Reagan. Neither did the cuts arrest troubling trends like expanding income inequality, middling wage growth, and the rising costs of housing, education and health care.