The Tax Plan of a Broken Party

In a political year marked by unprecedented partisan rancor, political infighting, and noxious scandal, there's something comforting in the perfectly predictable spectacle of a Republican Party in control of the White House and both houses of Congress releasing a bill to cut taxes.

Nothing could be more in keeping with the priorities of the GOP since the election of Ronald Reagan in 1980 than the effort to lower tax rates, especially for wealthy individuals and businesses. But that doesn't mean it makes sense in 2017.