A $7 trillion tax reform could trigger a recession under Trump

Arthur Laffer’s cocktail napkin has much to answer for as the birthplace of trickle-down economics. As Trump mark's 100 days, Laffer's proposed tax reforms could end up doing a lot of damage

President Donald Trump speaks as vice-president Mike Pence looks on at the Department of Veterans Affairs before signing an executive order on improving accountability and whistleblower protection last Thursday in Washington Olivier Douliery – Pool/Getty

Donald Trump is not the first leader to walk headlong into the propellers of government. But he may be the first to do so while simultaneously fending off a mauling from reality.

On each of the first 100 days of his presidency, Trump has claimed credit for a miraculous economic resurgence, which as he tells it, started at midday on January 20, the moment he placed his hand on the Bible and was ...