Observers Predict Abuse Under Tax Reform Proposals


Richard Dees said that an academic paper critical of the new tax bill was “balanced in that it identifies problems with the changes in C corporation, passthrough, and individual taxation.” But he singled out a greater problem from the bill’s corporate tax rate reduction. “In my opinion, only dropping the corporate tax rate to 20 percent and doing nothing for family businesses operating as passthroughs would decimate Main Street businesses competing with Wall Street’s large publicly traded corporations,” Mr. Dees asserted.