The Rhetoric Versus The Reality of a Corporate Book Tax - AAF
As congressional Democrats are debating tax policies to offset the spending commitments in the reconciliation bill, perhaps no proposal under discussion is more rooted in rhetoric and misperception than the proposed minimum tax on corporations. In a new insight, Director of Fiscal Policy Gordon Gray reviews the proposed corporate book tax, which is grounded in annual lamentations that a number of major corporations have zero tax liabilities in a given year, despite being profitable according to financial statements. Gray contends that examining the major claims by the proposal’s advocates reveals a disconnect between the policy’s rhetoric and reality.