Once again on TaxProf Blog I find a link to an interesting tax article, 20 Reasons to Kill the Corporate Tax, written by (fellow Greek?) James Pethokoukis of U.S News and World Report.
Here are Pethokoukis’ more interesting (and rarely mentioned) reasons for eliminating the corporate income tax:
4. Some 70 percent of the corporate tax burden is borne by workers in the form of lower wages and fewer high-paying jobs.
11. The OECD has found that corporate taxes are most onerous for dynamic, high-growth companies that are challenging more established firms.
14. It’s bipartisan. Among people who have called either for a reduction in or elimination of corporate taxes are John McCain, Charlie Rangel, Jimmy Carter, Ronald Reagan, Milton Friedman, Lester Thurow.
18. For every dollar the government collects in revenue, the corporate tax may actually cost the government $1 in revenue through slower economic growth.
I previously blogged on the issue of high corporate taxes at The GAO Study on Corporate Taxes and the Scapegoating of Corporations and at U.S. Corporate Tax Second Highest of 30 OECD Nations.
5 responses so far ↓
1 WSJ: Time to Repeal the Corporate Tax // May 6, 2010 at 10:37 pm
[...] Should we Kill the Corporate Income Tax? One Man’s Argument for Assassination [...]
2 Tax Lies: U.S. Corporations Pay Little or No Tax // May 14, 2010 at 12:08 am
[...] Should we Kill the Corporate Income Tax? One Man’s Argument for Assassination [...]
3 Schumer’s Tax on Foreign Calls Appeals to Xenophobics // Jun 2, 2010 at 7:02 pm
[...] Mr. Schumer truly wanted to stop the exportation of jobs, he’d do what I suggested here and the Wall Street Journal suggested [...]
4 We’re Number 1: America Has the Highest Corporate Tax Rate in the World // Dec 15, 2010 at 11:47 pm
[...] Should we Kill the Corporate Income Tax? One Man’s Argument for Assassination [...]
5 Bryson // Apr 24, 2011 at 6:42 pm
I’m not easily irpmessed. . . but that’s impressing me!
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