The Corporate Income Tax Is Like Mother’s Milk for Tax Professionals

Posted on by Caleb Newquist

Corporate tax lawyers like the tax – a lot. Corporate tax managers can’t live without it. The Big Four accounting firms have an army of partners who have become rich working on corporate tax issues. State revenue departments are full of people who earn their living working on corporate taxes. Most of them would like to cash in on their expertise and become partners in big law and accounting firms. State economic development officers love the corporate tax – a big old cookie jar from which to dole out goodies. Those economic development folks soon find themselves working for big consulting firms that manage to get corporate tax breaks for their clients. Think tanks on both the left and right love the tax. The left needs it to champion, the right to decry. Academics like the tax. It is so screwed up that it provides a wealth of research opportunities. These are the people who benefit from auditing, planning, litigating, and talking about the state corporate tax. [David Brunori]

Related Posts

Latest Poll Suggests That Most People Think Paul Ryan’s Deficit Reduction Plan Is a Lousy Idea

[A McClatchy-Marist] poll reported that roughly two out of three registered voters — 64 percent — would be in favor of increasing taxes on annual income over $250,000. President Obama reiterated in his deficit-reduction speech last week that he favored allowing taxes to rise on families in that income level. Independents favored that plan of action at roughly the same percentage as the country at large, with more than eight in 10 Democrats also behind the idea. A majority of Republicans, 54 percent, opposed it. The poll was conducted both before and after Obama’s Wednesday speech, with support for higher taxes on wealthier Americans picking up afterward. Meanwhile, fully four in five registered voters oppose cutting Medicare and Medicaid. The House GOP’s fiscal 2012 budget, largely crafted by Rep. Paul Ryan (R-Wis.), makes fundamental long-term changes to both health entitlement programs, converting Medicaid into a block grant and turning Medicare into a type of voucher system. [The Hill, Earlier]