By Larry Kotlikoff
Originally posted in The Seattle Times, April 2017
Last June, Republicans in the House Ways and Means Committee rolled out their “Better Way” tax reform plan. It proposes big changes to business and personal taxation. Critics say it’s regressive and will likely decrease revenues because of the cut in personal rates.
But a closer look suggests neither is true. Moreover, the business part of the tax plan promises to greatly expand investment in our economy, potentially raising wages by close to 8 percent. I say “potentially” because the plan may not pass as designed. Indeed, as I write, it’s not clear where the president stands on the details. MORE