The Corner

Re: Cutting the Corporate Income Tax

I didn’t call for corporate income tax cuts alone.  And of course they would have a short-term impact, including with the stock market and throughout the economy.  All kinds of decisions would be made on the prospect of lower tax rates.  Same with elimination of the capital gains tax.  They would not save all institutions — those so far over their heads in risky loans and other such paper that only nationalizing their debt would save them — but they deserve to fail.  There are so many reasons NOT to go forward with a Paulson-like plan — constitutional, philosophical, economic, psychological, etc., I’d have to literally stop doing what I do for a living and write about it at length.     

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