Should we Kill the Corporate Income Tax? One Man’s Argument for Assassination

Should we Kill the Corporate Income Tax? One Man’s Argument for Assassination

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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.

About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida

Comments

  1. I’m not easily irpmessed. . . but that’s impressing me! 🙂

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