Donald Trump has declared "with tax reform, we can make it morning in America again" and that "revising our tax code is not just a policy discussion — it is a moral one, because we are not talking about the government's money – we are talking about your money, your hard work."

The Republican tax plan, which would cut rates for individuals and small businesses, sounds like good policy, but it's not. Before we get lost in details and political infighting, it's worth laying out what effective tax reform actually looks like.

Produced by Todd Krainin. Written and narrated by Nick Gillespie. Cameras by Jim Epstein.