Observe the media’s economic illiteracy: reporters and pundits wonder why the nominal 35 percent corporate tax rate should be lowered when corporations pay a real rate that is so much lower. What those reporters and pundits don’t see is that many actions that corporations take to lower the real tax rate are nonproductive actions that would not be taken were it not for the high nominal rate. This constitutes a waste of resources to society.
PS: Corporate taxation is at least double taxation. So even a believer in taxes ought to oppose it.
