Editorial Board
Obama’s Corporate Tax Plan Could Be Fairer and Simpler: View
This article is for subscribers only.
President Barack Obama’s corporate-tax framework, unveiled Wednesday, recognizes that the U.S. tax code desperately needs a spring cleaning. There are too many loopholes, deductions, subsidies, allowances and special rules.
The 35 percent statutory rate is also too high, especially because most companies have figured out how not to pay it, and most countries have dropped their rates below the U.S.’s.