Corporate Taxes

Nice post by Jared Bernstein a few days ago on reforming the corporate tax code:

In that sense, the White House’s proposal creates an interesting political challenge.  For years now, American corporations and their reps here in DC have been calling for a lower rate while at the same time availing themselves of billions in tax breaks that have kept them from paying the statutory rate.   In my debates with supply-siders, they’re all about the rate…they’re happy to trade more base for points off of the rate.  In the next chapter of this debate, we’ll get to see how much they meant it.

It would be great to see such a compromise work with the conservatives, but I highly doubt it.  There's always a caveat with them; if you shave points off the tax rate, they will still look (and fight) for loopholes in the tax code.  Give a Republican a tax cut and he'll ask for more..