Trump plan won’t work

The Trump tax plan: drastically lower corporate tax rates, eliminate the estate tax (“Trump team unveils massive tax reform plan,” April 27).

Economists say this will accelerate future federal budget deficits, but congressional leaders seem unconvinced, asserting that economic growth will more than make up for the lost tax revenue and lead to massive job gains.

Not the first time we’ve heard this story. Remember the “trickle down” theory of tax policy: help corporate America and the well-to-do, and eventually economic benefit will trickle down to the rest of us.

Probably the most famous member of the trickle down theory was President Ronald Reagan. Reagan and his tax reductions are revered by many Americans. Unfortunately, too many of us harbor an incomplete recall of what tax moves Reagan actually made during his years as president.

Unfortunately, trickle-down didn’t happen and the government’s deficit ballooned. Following his Budget Director David Stockman’s resignation, Reagan spent the rest of his first term trying to reverse the tax reductions with sharp tax increases.

But if not tax cuts, what can work? Not false promises, not quick-buck solutions. Yes to an extended and overdue financial commitment to revitalize our flagging highways, water systems, sewers, harbors, airports, fiber-optic networks, etc. Yes to investments in college, vocational and public education (traditional and charter) models that work. Yes to advanced technology and sound research. And, yes to paid family medical leave.

These are ways the public and private sectors can work together to make the kinds of investments that will really make a difference.

Michael J. Daun Milwaukee