Tax Reform- Alice and the Rabbit

1)      Boy, $1 trillion just isn’t what it used to be. I was tempted to write that amount down but I wasn’t sure how many zeros I would actually need. But we will soon be finding out. The architects of tax reform are talking about major tax reduction in order to meet the president’s campaign promise. Like everything this president seems to do, he wants things done quickly. If not correctly. So now Republicans are changing their tune with regard to fiscal debt. The federal debt topped $20 trillion earlier this month and is projected to grow by another 10 trillion over the next decade. It seems the tax reform idea and tax cuts are different than the Republican ideal of fiscal responsibility and discipline. That at one time included tax cuts that did not add to the federal deficit. Of course the idea is that economic growth will offset the loss of revenue… said Alice to the Rabbit.