"In February President Obama laid out his framework for reforming corporate taxes. He proposed a substantial cut in the corporate income tax rate from 35 to 28 percent — a boon to companies, especially small businesses that lack the opportunities for tax avoidance that major companies regularly exploit.
"As I wrote at the time, the president proposed to make this tax cut revenue neutral so it doesn't increase the deficit. He called for reforming many of the provisions of the tax code that create significant inequities and economic distortions.
"Last week, big business responded. ..." <Read more>
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First published in U.S. News and World Report's Economic Intelligence May 15, 2012.
