The 80 Percent Fallacy: Why Fixing the Corporate Tax Base Does Not Justify Confiscatory Rates

WASHINGTON — In the ever-evolving debate over international tax reform, a seductive economic theory has steadily gained traction among legal scholars and progressive economists: if a government fixes its corporate tax base—most notably by implementing full expensing and closing profit-shifting loopholes—the economic penalties of high tax rates effectively vanish. This conceptual framework has now been…

Read More