The Future of the Corporate Tax
36 Pages Posted: 30 Sep 2012 Last revised: 19 Jul 2014
Date Written: December 31, 2013
This paper discusses three essential challenges of the present economic environment: serious long-term budget imbalances, dramatic increases in income inequality over recent decades, and a discrepancy between national or sub-national government jurisdictions and an increasing global economy. This trio of tough policy challenges necessitates a reevaluation of capital taxation in general, and the corporate tax in particular. Corporate taxation has an important role to play in both protecting the revenue-raising capacity of the income tax system and addressing income disparities. However, the global nature of economic activity requires modernization of corporate taxation; reform of U.S. corporate taxation is long overdue.
Keywords: Corporate Taxation, International Taxation
JEL Classification: H20, H22, H25, H26
Suggested Citation: Suggested Citation