America is under-taxed - and being irresponsible about it

Washington

WE Americans are having the wrong debate. Almost all the arguing over the Trump administration's proposed tax cut centres on two issues: Will the tax reduction stimulate faster economic growth? And is the proposal too generous toward the wealthy and too stingy toward the middle-class and poor?

Interesting questions, to be sure, but mostly irrelevant to the nation's long-term well-being.