The Obama administration is planning to propose cutting the top tax rate for corporations to 28%, and pay for it by eliminating dozens of tax loopholes companies now use to lower their rates, a senior administration official said.
Chances of a deeply divided Congress revamping a tax system regarded as convoluted across the political spectrum seems remote in an election year, but the announcement on Wednesday is certain to fuel debate in the run-up to November’s elections…..Read more.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.