Free Republic

President Trump and the Republican political establishment are certainly talking a good game when it comes to their proposed changes to the tax codes. On paper, the new tax plan would cut onerously high rates for companies that force businesses to move overseas. Individuals and, most importantly, middle-class families get some much- needed tax relief. The whole messy tax system would also become less complicated if the president has his way. Now our fearless leaders need to translate words into action, and it won’t be easy. First, Trump deserves credit for at least crafting the outlines of a plan that...

A Republican-sponsored tax reform plan (PDF) unveiled Wednesday could reduce federal income taxes for many Americans, though the details are sketchy on who would benefit most and who would pay more. The "Unified Framework for Fixing Our Broken Tax Code," released by the Senate Finance Committee, reduces the number of tax rates to three, nearly doubles the standard deduction, and makes more people eligible for child- and adult-care tax credits.It also eliminates most other deductions, including those for state and local income taxes, but keeps deductions for mortgage interest and charitable contributions. The plan also eliminates the alternative minimum tax, or...