Immaculate tax

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I liked this, in the FT this morning by Rana Foroohar:

Believing that the Republican tax plan will create real growth and jobs in America is a bit like believing in immaculate conception. There is no proof, so, at this point, you just have to take it on faith.

She's clearly a non-believer. And so am I.

There are only three possible outcomes from this tax reform.

The first is companies will have more retained profit.

The second is that they don't invest it, but do share buy-backs instead.

And the third is that the wealthiest in the US will get wealthier at cost to everyone else as a result.

Of course, really that's only one outcome because these three events are linked. But when it comes to faith I believe that's the intended one. Nothing else is plausible.