How Reform of the U.S. Corporate Tax Code Can Create Short- and Long-Term Economic Growth

By Ike Brannon, Doug Holtz-Eakin, and Elizabeth Lowell

A confluence of events has pushed corporate tax reform to the forefront of the economic policy agenda.  The pressing need for economic growth and the concomitant tax revenues it generates, the increasingly competitive global economy, an acceleration of corporate tax cutting amongst the other OECD countries, and the ineluctable evolution of our corporate tax code into a maze of Byzantine complexity, have created an urgency for the country to change the tax code. Ideally, the tax code would move from one that deters innovation while rewarding persistent lobbying, faddish technologies, and politically important regions of the country into one that, as the philosopher Jean-Baptiste Colbert described so elegantly three centuries ago, plucks the goose so as to get the largest amount of feathers for the smallest possible amount of hissing.

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