Clearing a Path for Tax Reform – Brian Wesbury, First Trust

In the article linked below, Brian Wesbury – Chief Economist at First Trust, explains how U.S. tax policy over the last several decades has move from an environment where cutting taxes makes new spending difficult to a situation where government spending is so high tax cuts are hard to pass.

From a macro perspective, President Trump’s plan seems to do much of what Democrats have asked for by shifting a larger portion of the tax burden on individual high-earners while just about everyone in the bottom 60% gets a tax cut.  This is hardly an ideal supply side tax cut.  Republicans on the other hand, have lost their way.  Even with a majority in the house and senate, republicans have shown little enthusiasm for helping President Trump with his agenda.

This is a unique time in our history where a confluence of events have come together unexpectedly and produced an accelerating economic environment.  I believe tax reform could be another factor potentially leading us to the strongest economy so far in the 21st century.

Wesbury_Clearing a Path for Tax Reform

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