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100 Million Unnecessary ReturnsA Simple, Fair, and Competitive Tax Plan for the United States$
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Michael J. Graetz

Print publication date: 2008

Print ISBN-13: 9780300122749

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300122749.001.0001

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Reduce the Corporate Income Tax Rate

Reduce the Corporate Income Tax Rate

(p.108) VII Reduce the Corporate Income Tax Rate
100 Million Unnecessary Returns

Michael J. Graetz

Yale University Press

This chapter discusses the need to reduce the corporate income tax rate in the United States. It argues that the tax which the federal government imposes on large businesses, or the corporate income tax, as it is known, is an odd phenomenon, even by the mysterious lights of the tax law. Corporate taxes are popular with the public, and people think that taxes remitted by corporations, especially large multinational companies, are paid by someone other than themselves. The plan presented in the chapter calls for a reduction of the corporate income tax rate to a maximum of 20 percent and perhaps a reduction to 15 percent, which would match the current capital gains and dividend rates. The chapter argues that this would dramatically improve the competitive position of the American economy and reduce tax-sheltering behavior.

Keywords:   income tax rate, federal government, tax law, corporations, multinational companies, dividend rates

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