There are several features of President-Elect Trump’s tax plan that are worthy of praise, including death tax repeal, expensing, and lower marginal tax rates on households.
But the policy that probably deserves the most attention is Trump’s embrace of a 15 percent tax rate for business.
What makes this policy so attractive – and vitally important – is that the rest of the world has been in a race to reduce corporate tax burdens.
Ironically, the U.S. helped start the race by cutting the corporate tax rate as part of the 1986 Tax Reform Act. But ever since then, policy in America has stagnated while other developed nations are engaged in a virtuous contest to become more competitive.
And that race continues every day.
Most impressively, as reported by the Financial Times, Hungary will cut its corporate tax rate from 19 percent to 9 percent.
Hungary’s…
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Utopia, you are standing in it! 
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