Donald Trump’s tax plans show good instincts—he just needs to go bigger

Donald Trump’s political instincts have led him to the brink of a transformative tax plan. He has made the elimination of taxes on overtime pay, tips, and Social Security benefits—three of his signature campaign promises—a top priority in the reconciliation bill that Congress is now moving to pass, though the Social Security reform has taken the form of a deduction. The president intuitively understands that Americans deserve to keep a bigger share of their income. But instead of pursuing one-off exemptions...