Do you want tax reform? Now, for the difficult questions: What is your definition of tax reform? And what will be the consequences of each of your proposals?
Nearly all serious tax reform advocates call for a reduction in the corporate income tax rate for several very simple reasons: The United States has the highest corporate tax rate in the world among major economies, which drives U.S. companies to move to sunnier tax climes and discourages foreign companies from moving to the U.S. — all of which reduces the number of jobs and economic growth. The corporate tax is correctly regarded by most tax professionals as a terrible tax for more reasons than can be described in this space. Recent studies show that most of the cost of the tax falls on workers in terms of lower wages and benefits.
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