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Tax Reform for the Working Class

by Henry Olsen

Three ideas to meet the needs of new Republican voters

The Trump administration and congressional Republicans are champing at the bit to introduce a comprehensive tax-reform bill. All indications are that the bill will dramatically slash the marginal rate of taxation that applies to most corporations. This may be great long-term economics if supply-side theory is correct. But without more targeted tax relief that offers immediate and direct benefit to the swing voters who elected President Trump, Republicans might not be in power long enough to enjoy the economic upturn.

Trump won because he received over 5 million votes from people, largely non-college-educated whites, who had voted twice for President Obama. From an economic standpoint, these voters are likelier to be unemployed or underemployed than the typical Republican. They are also likelier to have suffered financially during the Great Recession and to have faced stagnant or declining wages for the past two decades. They crossed party lines because they saw Trump as someone who was committed to delivering what they want most: good, high-paying jobs.

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