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Ways to Meet President Obama's Corporate Tax Goals
February 23rd, 2012
In The President’s Framework for Business Tax Reform, which the White House released earlier this week, President Obama advocates lowering the U.S. corporate tax rate to 28 percent. This move is not surprising. Last month, President Obama brought up a basic minimum corporate tax in his State of the Union address. But the tax cut is not alone. Alongside this cut, Obama advocates cutting corporate tax loopholes. This element is not to be overlooked. There are far too many corporate tax loopholes—which are deductions, credits, and other tax expenditures that benefit certain activities—and they often result in very different marginal...
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What President Obama Got Right (and Wrong) in the State of the Union
January 25th, 2012
I heard a lot of things I liked during President Obama’s State of the Union address this evening. I also heard a couple of things I didn’t like. I’ll get to those. I want to talk specifically about his statements on corporate taxation. I’ll have to leave his statements on individual taxes to someone else. From the transcript of tonight’s State of the Union: Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and...
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