The U.S. corporate income tax system is awful and needs to be reformed, but it does not subsidize foreign imports or justify a border-adjusted tax.
By backing away from a border adjustment, Republicans are making a major mistake. This policy will help narrow the trade deficit and fund a tax cut for all domestic businesses.
Protectionists want to force poor American consumers to subsidize well-connected cronies. They must no longer be given free rein to mislead with impunity.
We should at least have a debate about whether ideas like intervention are the right ones, and not leave foreign policy to the Washington insiders.
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