We asked our followers what they thought about the corporate tax code. Comments from Twitter are edited for clarity and grammar:
A corporate tax rate of 35% is a job killer, a research-and-development killer and a higher-dividends-for-investors killer!
The tax code is OK. The problem is loopholes that companies use to avoid paying. That's why lobbyists buy politicians after all.
The corporate tax rate is too low. Corporations should pay a higher rate instead of passing their profits into executive compensation.
Corporations move their businesses to Europe. Small businesses close their doors. Tax reform is a must.
Your editorial misleadingly called the corporate income tax a "highly regressive" tax on shareholders. But corporate stocks are disproportionately owned by the wealthy ("Pfizer vs. corporate tax code: Our view").
Congress' non-partisan Joint Committee on Taxation calculates that more than half of the corporate tax is ultimately paid by Americans making over $200,000 and more than a fifth is paid by those making over a million dollars. In contrast, families making less than $50,000 pay almost nothing. That makes the corporate tax a very progressive tax.
Robert S. McIntyre, director, Citizens for Tax Justice; Washington, D.C.
Opposing view writers Joshua Smith and Thomas Hungerford of the progressive Economic Policy Institute claimed in their piece on Pfizer's move to England that the U.S. cannot win the race to the bottom by cutting corporate tax rates because there will always be other systems more lax ("Cutting tax rates not the answer: Opposing view").
They suggested a simple solution to corporate unhappiness: Make parking profit abroad illegal! Apparently, the two never heard how incentives work, so they think that will make Pfizer and many others less likely to run away from the U.S.
Benjamin Gilad; Boca Raton, Fla.
Comments from Facebook are edited for clarity and grammar:
Regardless of the reasons, whether it's taxes, regulations or labor, corporations are moving elsewhere, and that is hurting us. All the people who think that our tax system is not a problem obviously missed a key point in USA TODAY's editorial on corporate taxes: Corporations are moving overseas. It's time to make policies that are friendly to corporations to keep them in the United States.
— Ciara Dillon
Corporate tax breaks generally don't benefit consumers. Does anyone think that lower tax rates would mean lower drug costs? Of course not. Rates go down; shareholders win. Rates go up; consumers lose. They end up paying the taxes, not the business. The idea that corporate tax breaks are good for the consumer never pans out.
— Mitchell K. Clasen
The corporate tax is definitely not a regressive tax.
The majority of corporate shareholders are wealthy, meaning they bear much of the corporate tax.
— Richard Phillips