Lost in the Tax Debate: Would Growth Benefit?

How much GOP plan would help the rich matters less than if GDP boost comes true

Since rolling out their “unified framework” for a tax overhaul last month, the Trump administration and Republican congressional leaders have been on the defensive, trying to bat down accusations their plan is a boon to the wealthy. The rich “will not be gaining at all,” President Donald Trump claimed before the plan was released. “Wealthy Americans are not getting a tax cut,” Gary Cohn, Mr. Trump’s top economic adviser, insisted soon afterward.

There are two problems with their claims. The first is that they are wrong: As...

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