Abolish the corporate income tax

posted by
September 22, 2016
Future of Freedom Foundation
by Laurence M Vance  
Posted in Commentary

"U.S. companies are taxed on their global profits, less a credit for tax payments to foreign governments, and don't pay their American tax obligations until they bring their money back to the United States. There are two solutions to what governments see as the problem of corporations trying to pay as little in taxes as they possibly can. The first was articulated by Commissioner Vestager at a news conference in Brussels: 'The ultimate goal should of course be that all companies, big or small, pay tax where they generate their profits. We need a change in corporate philosophies and the right legislation to address loopholes and ensure transparency.' The second has been proposed by libertarians, and some conservatives, for decades: no companies, big or small, should have to pay tax on their profits. The corporate income tax should be abolished." (09/22/16)



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