December 6, 2017      2:25 PM
HK: Unintended consequences of tax reform
GOP leadership may be correct in predicting massive growth, but any major tax rewrite fundamentally revalues assets creating unforeseen winners and losers which, in this perilous world, is no small concern
Republicans appear to be on the brink of passing a cobbled together one-party
tax bill that they are still reading. By their very nature, tax bills are
fraught with danger from unintended consequences. Even the collaboration between President Ronald Reagan and Speaker Tip O’Neil, while successful on many
fronts, ballooned the deficit requiring a subsequent tax increase.
significantly, it contributed to the worst recession in Texas since the Great Depression and that includes the
post-Lehman Brothers meltdown of
a quick history lesson.
By Harvey Kronberg