Despite a finding by the Congressional Budget Office that extending the Trump tax cuts would increase the national debt by $4.7 trillion over the next decade, Republicans remain resolute in pursuing this path through a party-line reconciliation process. If successful, this will mark their fourth major enactment of a trickle-down tax cut in recent decades, none of which have delivered on their promises of leading to broad prosperity.

The pattern is painfully familiar. Each time, Americans have been sold the fantasy that cutting taxes for the wealthy and corporations would generate enough economic growth to benefit everyone — so much so that the tax cuts would actually pay for themselves. Each time the result has been the same: middle-class wages stagnate while wealth concentrates at the top, all while the budget deficit explodes as a result.

The 2017 Tax Cuts and Jobs Act was passed with grandiose promises that........

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