The US is, like the UK, opting for economic suicide

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I noted the FT reporting in an email last night that:

The US will “leapfrog” the rest of the world in the race for investment if it embraces contentious tax reforms stripping away advantages held by other countries, a top Republican congressman predicted as he battled scepticism about the plans. Kevin Brady told the FT that his proposal for an import tax was essential to putting the US on an equal footing, or ahead of, its peers. He added that he was on track to push through the plan this year.

Economic suicide notes were in fashion both sides of the pond yesterday.