Abolish the corporate income tax

On its face, corporate tax reform is dividing Washington in all the usual ways. President-elect Trump has proposed lowering the top bracket from its current percent to percent, offsetting some of the revenue loss by eliminating many tax preferences. Corporate taxes are back in the news again, this time with Apple appealing the E. Eliminating the corporate tax and raising income tax rates or lowering the corporate tax rate and eliminating its loopholes are not the only options. Abolish the entire legal standing . The European Commission last month ordered Ireland to collect $14. This past Friday, two prominent tax economists released a detailed and thoughtful tax reform proposal, calling for a major overhaul of the U. Overall, a rate reduction would be part of the set of reforms required to eliminate the problems with the U. Republican leaders have proposed to cut the corporate income - tax rate to percent, in a tax plan that adds $1.

There is a strong progressive case for sharply lowering the corporate income tax , or better still, abolishing it altogether.