NEW: Double taxation of corporate income in the U.S. and the OECD: https://buff.ly/3qjjzDU  @ElkeAsen
NEW: Double taxation of corporate income in the U.S. and the OECD: https://buff.ly/3qjjzDU  @ElkeAsen
NEW: Double taxation of corporate income in the U.S. and the OECD: https://buff.ly/3qjjzDU  @ElkeAsen
NEW: Double taxation of corporate income in the U.S. and the OECD: https://buff.ly/3qjjzDU  @ElkeAsen
The U.S. tax code—as with many OECD countries’ tax systems—double-taxes corporate income: once at the corporate level and then again at the shareholder level.
This creates a significant tax burden on corporate income, which increases the cost of investment, encourages a shift from the traditional C corporate form, and incentivizes debt financing.
Biden’s proposal to increase the corporate income tax rate and to tax long-term capital gains and qualified dividends at ordinary income tax rates would increase the top integrated tax rate above pre-TCJA levels, making it the highest in the OECD.
You can follow @TaxFoundation.
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