Not Much Reform in “Tax Reform”

The “tax reform” legislation—which at this writing still awaits final approval by Congress and the president—has been acclaimed by conservatives and liberals alike. It would presumably distribute the tax burden more fairly, exempt most low-income earners or radically reduce their federal taxes, and shift some of the burden from families to business. Other reasons for the acclaim are that it would broaden the tax base, i.e., make the definition of taxable income more inclusive ...