Trump's tax reforms are a bigger gift to business than most expected | Joseph Stiglitz

The Republicans' proposals dodge necessary changes and will leave the country with a mountain of debt

Having failed to "repeal and replace" the 2010 Affordable Care Act ("Obamacare"), Donald Trump's administration and the Republican congressional majority have now moved on to tax reform. Eight months after assuming office, the administration has been able to offer only an outline of what it has in mind. But what we know is enough to feel a deep sense of alarm.

Tax policy should reflect a country's values and address its problems. And today, the United States - and much of the world - confronts four central problems: widening income inequality, growing job insecurity, climate change and anaemic productivity growth. America faces, in addition, the need to rebuild its decaying infrastructure and strengthen its underperforming primary and secondary education system.

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