The features of the bill that are likely to help ordinary people were catchy and easy to understand—reduced taxes on tips and overtime pay and a higher standard deduction for the elderly on income taxes. Yet these projected revenue losses are tiny compared to those incurred by the super rich.
ROBERT HOCKETT is a professor of law and of public policy, Cornell University; senior counsel, Westwood Capital, LLC; fellow, The Century Foundation; and former resident consultant at the Federal Rese
