You could cut the corporate tax rate and raise the capital-gains tax rate to compensate, as Senator Mike Lee has proposed. You could even (gasp, heresy, gasp) raise the top income tax rate, as Steve Bannon reportedly wants to do, and use the savings to cut payroll taxes or fund a new child tax credit. So barring a sudden transformation in the party and its leadership, a temporary, deficit-financed tax cut is the only thing that has a decent chance of happening. But the economy is stagnant enough that you can make a decent tax-cuts-as-stimulus case, especially if Republicans were to focus on corporate and payroll taxes, on business and workers, instead of just aiming for the lowest possible top income tax rate. But if Congress insists on continuing to try legislating, I will give a 10-year tax cut my official Trump-era seal of approval: They could certainly do worse.

Source: New York Times July 19, 2017 07:21 UTC