This should be a slam-dunk, because the president and congressional Republican leaders are on the same page. But, to be politically viable, significant tax cuts for the wealthy would have to be accompanied by at least token tax cuts for the middle class. But the vast majority of federal spending is on entitlements, the military, and other proverbial “third rail” items that elected officials touch at their peril. Simply put, broad-based spending cuts to match broad-based income-tax reductions are not politically feasible. First, Trump will focus on the one set of economic policies a president can pursue without close congressional cooperation, namely those affecting trade.

Source: Sunday Times March 10, 2017 09:11 UTC