A taxing debate and a vexing issue

Washington

DEPENDING on the views of the economic analyst whose newspaper column you have just read or that political pundit pontificating on television, you may conclude that the most significant overhaul of the US tax code which was approved by Congress last week would usher in an era of unprecedented economic growth in America and ensure that President Donald Trump would be re-elected in 2020.

Or you may determine that the passage of the US$1.5 trillion tax cut advanced by the White House and the congressional Republicans would balloon the national debt, produce inflationary pressures, and worsen economic conditions in the long run, and guarantee that three years from now, the current White House occupant would not return for another term in office.