It’s been 27 years since our corporate tax code was last updated. Since Japan lowered its corporate income tax rates last year, the U.S. has the highest rates in the world. And after Apple CEO Tim Cook’s Senate grilling last month drew attention to the deficiencies in our system, you may be hoping to see reform at last. Justin Fox of the Harvard Business Review is skeptical, on the grounds that widespread corporate tax avoidance makes it politically difficult for Congress to agree on the lower rates (with fewer loopholes) that we need. Of the Cook testimony coverage that I read last month, I thought that Fox’s was the best. It’s concise and full of links to academic research and descriptions of common tax avoidance strategies. The last link includes a few more detailed recommendations for tax code changes from Harvard professor Mihir A. Desai. I saved both links for future reference and thought others might like to do the same.
“Seven Fun Facts About Corporate Taxes” – Harvard Business Review
“Don’t Blame Apple for America’s Broken Tax Code” – Harvard Business Review
