A new corporate tax?

Reuven S. Avi-Yonah

Chapter 26 in Research Handbook on Corporate Taxation, 2023, pp 434-443 from Edward Elgar Publishing

Abstract: This chapter will argue that we should tax corporations for the same reason we originally adopted the corporate tax in 1909: to limit the power and regulate the behavior of our largest corporations, which are monopolies or quasi-monopolies that dominate their respective fields and drive their competitors out of business (the best example being Big Tech - that is, Amazon, Apple, Facebook, Google, and Microsoft). But if that is the reason to have a corporate tax, it should have a different structure from the current flat corporate tax of 21 percent. Instead, the tax should be set at zero for normal returns by allowing the expensing of physical capital, but at a sharply progressive rate for supernormal returns (rents).

Keywords: Law - Academic (search for similar items in EconPapers)
Date: 2023
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