One of President-elect Trump’s better ideas is to ease regulation, especially the regulatory burden on business. Some of the regulations that bedevil business are woven into the corporate income tax. Besides easing those tax-related regulations, Trump wants to lower the federal corporate income tax rate to 15 percent. Such a tax rate cut, in one fell swoop, would be truly Reaganesque. Indeed, it might even out-Reagan Reagan. But is 15 percent the right rate? The casual reader may believe that the U.S. has the highest corporate income tax rate in the world. On August 18, the Tax Foundation ran “Corporate Income Tax Rates around the World, 2016” that contrasts corporate tax rates in various nations. The authors are Kyle Pomerleau and Emily Potosky who report (italics added): The United States has the third highest general top marginal corporate income tax rate in the world, at 38.92 percent. Due to the recent reduction in Chad’s corporate tax rate, the...(Read Full Article)