US tax reform has lost Martin Wolf's vote

Author: Adam Button | Category: News

'This simply is reform for plutocrats' FT commentator writes

Martin Wolf is probably the world's most influential financial columnist and his latest column pulls no punches in a dressing down of Congress' tax reform plan.

"This is a determined effort to shift resources from the bottom, middle and even upper middle of the US income distribution towards the very top, combined with big increases in economic insecurity for the great majority," he writes.

Wolf writes that arguments that arguments from supply-side economists and those who argue it will trigger business investment are bunk. He goes onto warn that 'pluto-populism' will lead to grave consequences as the tax plan worsens inequality.