Why We Should Eliminate the Corporate Income Tax

Megan McArdle has a story in Atlantic arguing that the U.S. should dump the corporate income tax.¬† “The FT has a piece today on the administration’s plans to lower the corporate income tax rate in exchange for simplification–getting rid of a bunch of deductions. ¬†This is a decent plan–and not just because it’s the Full Employment for Policy Pundits Act of 2011–but this seems like a good time to once again charge into the fray and argue that we ought to just eliminate the damn thing altogether.”