Yeah, I think when Trump gets around to making it, his argument against such idiocy will resonate.
To be clear, I've long supported eliminating corporate income taxes altogether, which is an admittedly radical concept, but The Trump Economy at least suggests it is not a crazy idea. The savings in compliance costs would not be insignificant IMO (just the administrative burden amounts to an estimated $50B/year, a full 25% of the revenue collected.
We should ditch it, take the economic growth, eliminate all of Subchapter C of the tax code, and be done with it. Maybe replace it with some community commitments in lieu of taxation. I'd much rather have corporations deciding how to spend "tax" money than having government do it. Government is not exactly the best allocator of resources (see: Solyndra, the 2009 "Stimulus" and, who could forget, "Cash for Clunkers.") |
