This Isn’t Tax Policy; It’s a Trump-Led Heist – Nicholas Kristof – NYT

“Conservatives emphasize that the official top corporate tax rate in the U.S. is too high, and they have a point. The top rate for American corporations — almost 39 percent, including a 35 percent federal rate and a bit more for the average state rate — is among the highest in the world, according to the Tax Foundation.Yet that’s deeply misleading, because most companies don’t pay that rate. The Government Accountability Office found that two-thirds of active corporations paid no federal tax. Even large, profitable corporations paid an average federal rate of only 14 percent — and Boeing, Verizon, General Electric and Priceline paid no federal income tax over a five-year period, according to Citizens for Tax Justice.

There’ve been many studies showing that the U.S. effective marginal rate for corporations is in the same ballpark as in other industrialized countries (some say it’s a bit lower, others a bit higher).

So, sure, let’s lower the official corporate tax rate while reducing loopholes, but don’t pretend this will create a ton of new jobs.”

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