Hillary Clinton thinks corporate taxes are too low. Donald Trump thinks corporate taxes are way too high. They're both wrong, and the economic consequences could be huge if either nominee's tax proposal becomes law.
Trump would slash the rate to 15 percent and allow millions of partnerships and single-owner firms set up by hedge fund managers, lawyers and other well-heeled taxpayers to also pay the 15 percent rate once they pass earnings through to their personal income taxes. Clinton would hold the existing corporate tax rate steady at 35 percent but would close a variety of loopholes, which amounts to a tax increase.