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Obama's Rate Cut: How Low Can You Go?

President Obama's newly released 'framework' for corporate tax reform envisions a significant rate cut for U.S. firms. You can read the details at the President's Framework for Business Tax Reform . His basic idea is to lower the statutory rate from 35% to 28%. He's vague on the details...

A Grown-Up Conversation About Corporate Tax

Nothing is more fun for liberals than to catch a big multinational abusing U.S. tax laws. Google, Cisco, General Electric, and Apple -- to name a few -- now have public relations problems because the press has put a spotlight on their use of offshore tax havens. The tax dodging is disgraceful. The worst...

Obama's Corporate Minimum Tax

President Obama has given us his framework for corporate tax reform . There's much talk about his proposed minimum tax on offshore profits. The framework is thin on details, but we're able to provide the following preview of how the tax might operate. The minimum tax would take the form of...

Will Developed Countries Learn to Tax?

In 1963, Nicholas Kaldor published a paper in Foreign Affairs about the ongoing fiscal problems of poor countries, entitled " Will Underdeveloped Countries Learn to Tax? " It turns out Kaldor should have aimed this advice at his own country, as the rich world, confident in its fiscal advice...

Tax Reform Goals Differ for Corporate Coalitions

When it comes to taxes, corporate America is divided into two parts. First, there are companies that pay full freight. Their effective tax rates are close to the statutory 35 percent rate. They tend to be low-tech and labor-intensive, and -- most of all -- they have most of their profits in the United...

A Time Bomb of a Tax Code

There's a lot of serious news out there - tragedy, health care, a nuclear Iran. It seems the news of the day roars at us. But if you turn down the sound, you can hear it: tick, tick, tick. What is it, you say? It's the federal tax system, and it's set to explode. And if it does, there...

Pepper Hamilton LLP Tax Update: Cut Unjustified Tax Loopholes Act Would Favor Foreign Fund Managers Over U.S. Managers

By Steven D. Bortnick and Timothy J. Leska , Attorneys, Pepper Hamilton LLP In March 2009, Sen. Carl Levin (D-Mich.) introduced the Stop Tax Haven Abuse Act (S. 506) (the 2009 Act) to "stop tax cheats" and target "off-shore tax abuses that rob the U.S. Treasury."[1] Although most...

Corporate Tax Transparency

The activist-led movement to increase multinational tax disclosure is proving to be a full-employment program for natural resource industry lobbyists. The money and energy available for fighting against transparency seems limitless. We have seen the effects of this in the US, where Dodd-Frank's section...

Busting Myths About Rich People's Taxes

There are good reasons for the government to keep its hand out of the pockets of the wealthy. For example -- and this will be a shocker to most liberals out there -- it is a basic tenet of tax economics that an efficient system should eliminate all taxes on capital income. That translates into big tax...

Pepper Hamilton LLP Tax Update: Cut Unjustified Tax Loopholes Act Would Favor Foreign Fund Managers Over U.S. Managers

By Steven D. Bortnick and Timothy J. Leska , Attorneys, Pepper Hamilton LLP In March 2009, Sen. Carl Levin (D-Mich.) introduced the Stop Tax Haven Abuse Act (S. 506) (the 2009 Act) to "stop tax cheats" and target "off-shore tax abuses that rob the U.S. Treasury."[1] Although...