The JEC and Corporate Taxation
May 24, 2005
The Joint Economic Committee recently released a paper on corporate taxation and possible reform options. “Reforming the U.S. Corporate Tax System to Increase Tax Competitiveness” gives an overview of the current corporate tax situation and possible ways to make the U.S. system more competitive globally. The paper points out a key fact:
An important principle of taxation that is often ignored in policy discussions is that only individual people can pay taxes. Corporations are not people. They are legal entities involving employees, shareholders, creditors, etc., each with their own individual wealth and income characteristics.
Check out the paper to learn more about ways to improve corporate taxation in the U.S. Also, see the Tax Foundation’s Corporate Income Tax research for further information.