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Guest Column: Corporate income taxes make all of us pay

 

August 15, 2010



It is hard to find anything positive to say about the corporate income (i.e., profits) tax. Economists across the ideological spectrum agree that the corporate profits tax is woefully inefficient:

1) It warps corporate decision making, inducing expenditures made only to reduce a company's tax liability.

2) The compliance costs are astronomical, often exceeding 60 cents for every dollar of revenue that the government raises from taxing corporate profits. How would you like to spend $6,000 per year calculating that you owe Uncle Sam $10,000?

3) It fosters over-reliance on debt. Corporation...



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