Treasury Department Calls For Lower Corporate Taxes

The Treasury Department held a conference today on how the US corporate tax structure is a danger to American companies ability to compete in the market and to the US economy in general. Cato has a nice summary of the salient points here. This issue is growing rapidly in importance as EU rates continue to fall. Unfortunately, it is a politically impossibility to call for tax relief for corporations when popular sentiment is ever more anti-corporate and anti-glob globalization. When the idea of a US company setting record profits is seen as a bad thing, a call to help corporate America is sure to fall on deaf ears.

Update: Some video of this debate featuring the president of the Club for Growth. Good stuff.