Joe Biden & Corporate Taxes: Disconnect Emerges

Jeff Stein reports for the Washington Post:

Faced with criticism over their proposed tax hikes, senior Biden administration officials have in recent days pointed to large American corporations that are paying no federal income taxes. . . .

But tax experts are not sure whether Biden’s plan would in fact substantially reduce the number of large corporations paying zero dollars in federal income taxes.

They’re also not sure, Stein notes, whether it is a big problem that some corporations pay nothing — especially since they are paying nothing because they are engaging in conduct that Congress specifically encouraged them to do by cutting their taxes in return for it. The good news, if you’re a left-winger, is that if Biden’s plan goes through, this talking point about big companies paying nothing will still be available to help sell the next round of tax hikes.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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