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Should the United States eliminate the corporate income tax?

Asked by: Zmuz
  • Competitition, Growth, and Workers

    Apple's tax returns are an excellent example of our companies shifting their money overseas. Only 8.2% of its worldwide profits were paid in United States income taxes in 2014. Eliminating the corporate income tax would be self-financing to a great extent, and it requires no extreme supply-side economics to see that. Eliminating the corporate income tax and replacing any loss in revenues with somewhat higher personal income tax rates leads to a huge short-run inflow of capital, raising the United States’ capital stock by 23 percent, output by 8 percent and the real wages of unskilled and skilled workers by 12 percent. Unlike how the left may depict it, the corporate income tax is a war on workers, not wealthy corporate controllers. The average worker today makes 10% less than they did in 1966, accounting for inflation.

    Posted by: Zmuz
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