0%: The Correct Corporate Tax Rate
New and returning members of a soon-to-be divided Congress might be tempted to heed the words of the late Sen. Russell B. Long (D-La.), who once summed up tax reform nicely: “Don’t tax you. Don’t tax me. Tax that fellow behind the tree.”
Giant, faceless corporations might seem like an ideal candidate to be that fellow behind the tree. After all, they can’t vote. But there is a problem: Regardless of whether you buy the argument that “corporations are people,” they don’t pay taxes. Only people pay taxes (and not just rich CEOs and investors)...
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