Actually, I'd say that it is much more likely that the tax-cut-induced budget deficit will lead to a trade deficit and more imports, than that it will lead to dollar depreciation and fewer imports. It's the old twin deficit, as played out in the Reagan and Bush Administrations. See, for example, https://nyti.ms/2jzZRGQ. JF

Luca Grande, On your point (1), I think that stock market ownership has actually been down among middle class Americans ever since 2008. But is that the direction it would take to support the argument that lower interest rates have increased inequality by boosting stock prices? JF

To Stephan Edwards and everyone else who is somehow convinced that there is no difference between the two parties’ candidates with respect to addressing inequality: How can you ignore the 180-degree difference between their policies? As I said in the column, “As usual…it is the Democratic candidate, Hillary Clinton, whose platform includes policies that will promote greater economic equality, including a more progressive tax system, higher wages, and universal health insurance. With enough support in Congress, Clinton would enact these policies. The Republican candidate, Donald Trump, favors the opposite policies: cutting taxes for the rich, keeping wages low, and rolling back health-care reforms.” I could have added their policies on financial regulation and much else. Jeff Frankel

To Petey Bee, My personal position is that we should reduce the corporate income tax rate at least to the extent that we can make up the lost revenue by removing distortions such as deductions for interest on corporate debt and oil drilling costs. JF

To Dominique Croteau: The target audience I have in mind is not only, and not even primarily, "pro-Trump" voters. If one were to judge the Project Syndicate readership by the comments that are posted on columns by me and others, many of them criticize Hilary Clinton and Barack Obama from the left. As they have in the past with Kerry, Gore, and Bill Clinton. Ralph Nader and his supporters in 2000 claimed that there was no difference between Gore and George W. Bush. Gore "lost" in Florida by 537 votes. That was 1/2 of 1 % of the votes that Nader got in Florida, and was a much smaller percentage of those who did not bother to vote at all. I'd feel much better if the critics (among American citizens) who comment on my column would start by mentioning that they plan on turning out to vote, and to vote Democratic. JF