Now that Congress has postponed repealing and replacing ObamaCare, they’re moving on to tax reform. Let’s hope they can get their act together, because tax reform is one of the keys to revitalizing the economy. The IRS tells us that in 2015, just three categories of taxes made up 80 percent of all federal revenue, with borrowing to cover the deficit providing another 12 percent. The three categories were personal income taxes at 42 percent, “Social Security, Medicare, and unemployment and other retirement taxes” at 29 percent, and corporate income taxes at 9 percent. So, which of these taxes should tax reformers focus on if they want to rev up the economy? Since you asked, I’ll tell you: it’s the corporate income tax. Yes, the corporate income tax provides much less revenue than the personal income tax. But the corporate income tax, with all its red tape, is holding back business, and many economists will confirm that. If Congress had to choose...(Read Full Article)