Corporate Tax

Joe Biden & Company Taxes: Disconnect Emerges

Jeff Stein reports for the Washington Post:

In recent days, amid criticism of the proposed tax increases, senior government officials in Biden have pointed to large American companies that do not pay federal income taxes. . . .

But tax experts aren’t sure if Biden’s plan would actually significantly reduce the number of large corporations paying zero dollars in federal income taxes.

They’re also not sure, Stein notes, whether the fact that some companies pay nothing is a big problem – especially since they pay nothing because they engage in behavior that Congress has specifically encouraged them to do by paying their taxes for it reduce. The good news, if you’re a leftist, is that if Biden’s plan goes through, that discussion of big, paying nothing, companies will still be available to sell the next round of tax hikes.

Ramesh Ponnuru is the senior editor for National review, Columnist for Bloomberg Opinion, Visiting Fellow at the American Enterprise Institute, and Senior Fellow at the National Review Institute. @ Rameshponnuru

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