Tax Reform Will Be a Nightmare

The Atlantic: “America’s health-care industry is roughly one-sixth of the economy, or about $3 trillion. U.S. federal tax revenue is roughly one-sixth of the economy, or about $3 trillion. Health care is a complex national cross-subsidy, where, for example, the healthy support the sick. Taxes are a national cross-subsidy, where, for example, workers support retirees. With health care, Americans interact with with an amorphous institution, with a maze of entrenched interests, in which they ultimately just want access to an excellent bundle of services at an affordable price. With the federal government, Americans interact with … okay, I think you get the point.”

“Still, it’s possible to sympathize with the White House’s enthusiasm for tax reform. After a stinging defeat with the American Health Care Act, President Trump and Republicans are looking for an easy win. But they may soon discover that tax reform is the opposite of easy, and impossible to win.”

Washington Post: “Trump is about two weeks away from discovering how complicated tax reform can be.”

For members: Why Tax Reform May Already Be Dead