Economics

United States united on a key tax issue

What’s especially interesting about the report Jim highlights from TPC/JCT is that for all the talk these days about how divided the nation is—from red state to blue, from GOP to Democrats, from Occupy Wall Street to the Tea Party—one area of consensus involves cutting corporate tax rates.

With Rick Perry releasing his tax plan last month, he joins Mitt Romney, Herman Cain, John Huntsman, and Newt Gingrich as GOP candidates supporting lower corporate tax rates. This happens to be something they have in common with the man they want to unseat, President Obama. At the beginning of this year, Obama called for lower corporate tax rates.

All the candidates differ on some of the details. That’s to be expected. But they all are responding to the growing body of literature that says America’s corporate tax rate is unjustifiable.

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