Kleinbard on Tax Reform

Edward Kleinbard, the former Director of the Congressional Budget Office, has a piece in Bloomberg on the prospects of corporate tax reform that makes some interesting points worth considering.

To start, he argues that Congress should pass corporate-only tax reform and pass through businesses can just convert to C corporation status and access the new lower rates.  He’s made this case previously, and we address it here,

But why is corporate-only reform necessary?  Well, it’s just impossible to reduce pass through rates these days:

Reducing top individual tax rates is a nonstarter. The Barack Obama administration would be adamantly opposed, and

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