How Mark-to-Market Taxation Can Lower the Corporate Tax Rate and Reduce Income Inequality

20 Pages Posted: 1 Jan 2015 Last revised: 21 Oct 2015

Date Written: October 20, 2015

Abstract

Democrats and Republicans agree that the U.S. international tax system needs fixing, and the U.S. corporate tax rate is too high. Americans across the ideological spectrum see income inequality as a big problem.

Reducing income inequality can allow a reduction in the corporate tax rate and help fix the international tax system.

If a mark-to-market tax is imposed on the publicly-traded securities and derivatives of the 0.1% wealthiest and highest-income families, and the revenue used to reduce the corporate tax rate on publicly-traded U.S. corporations, then all publicly-traded corporations could benefit, private businesses would be unaffected, and upper-tier income inequality would be meaningfully diminished.

Keywords: corporate taxation, income inequality, wealth inequality

JEL Classification: D31, D63, E62, H20, H23, H24, H25

Suggested Citation

Miller, David S., How Mark-to-Market Taxation Can Lower the Corporate Tax Rate and Reduce Income Inequality (October 20, 2015). Available at SSRN: https://ssrn.com/abstract=2544048 or http://dx.doi.org/10.2139/ssrn.2544048

David S. Miller (Contact Author)

Proskauer Rose LLP ( email )

Eleven Times Square
New York, NY 10036-8299
United States

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