Last updated on: 1/31/2019 | Author:

Footnotes & Sources

The background and pro and con arguments were written by staff based upon input from the following footnotes (directly referenced) and sources (used for general research and not directly referenced):


1.Fareed Zakaria, "Complexity Equals Corruption,", Oct. 31, 2011
2.PricewaterhouseCoopers LLP, "Global Effective Tax Rates,", Apr. 14, 2011
3.Tax Foundation, "Federal Corporate Income Tax Rates, Income Years 1909-2012,", July 6, 2012
4.Bureau of Labor Statistics, "Labor Force Statistics from the Current Population Survey," (accessed May 18, 2018)
5.Tax Policy Center, "Major Enacted Tax Legislation, 1940-49," (accessed Dec. 13, 2012)
6.Becky Yerak, "Aon Shareholders Approve Headquarters Move to London,", Mar. 17, 2012
7.Emily Chasan, "At Big US Companies, 60% of Cash Sits Offshore: JP Morgan,", May 17, 2012
8.Albert Wijeweera, "Corporate Tax Rates and Foreign Direct Investment in the United States," Applied Economics, Oct. 30, 2009
9.Tax Policy Center, "Major Enacted Tax Legislation, 1980-89," (accessed Dec. 13, 2012)
10.Robert Carroll, "Corporate Taxes and Wages: Evidence from the 50 States,”, Aug. 2009
11.Mark Ahlseen, "Why Government Can’t Create Jobs,” (accessed Dec. 4, 2012)
12.The President’s Economic Recovery Advisory Board, "The Report on Tax Reform Options: Simplification, Compliance, and Corporate Taxation" ,, Aug. 2010
13.Matthew Yglesias, "Dear CEOs: Please Stop Whining About Uncertainty,", Dec. 11, 2012
14.Christina Romer and David Romer, "The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks,", June 2010
15.John Cragg, "Empirical Evidence on the Incidence of the Corporation Income Tax," Journal of Political Economy, Dec. 1967
16.Kristina Peterson, "Report: Repatriation Tax Holiday a ‘Failed’ Policy,", Oct. 10, 2011
17.Mark Cuban, "My Views on Corporations and Taxes,", Nov. 15, 2011
18.Phil Izzo, "Dearth of Demand Seen Behind Weak Hiring,", July 17, 2011
19.Robert Farley, "Warren: GE Pays No Taxes,", Apr. 24, 2012
20.Reuven Avi-Yonah and Yaron Lahav, "The Effective Tax Rate of the Largest US and EU Multinationals," University of Michigan Program in Law and Economics,, Oct. 2011
21.Organisation of Economic Cooperation and Development, "Taxes on Corporate Income as Percentage of GDP,", Nov. 30, 2011
22.Organisation of Economic Cooperation and Development, "Harmonised Unemployment Rates,", Oct. 2011
23.Think Progress, "Buffet on Corporate Taxes", (accessed Nov. 26, 2012)
24.Tax Policy Center, "Historical Source of Revenue as Share of GDP,", Apr. 13, 2012
25.Bureau of Labor Statistics, "Federal Government Receipts and Expenditures,", Feb. 1, 2012
26.Jeff Cox, "Companies Are Sitting on More Cash Than ever Before,", Oct. 23, 2012
27.Politifact, "Health Insurance Companies Are 'Making Record Profits, Right Now,", July 23, 2009
28.Tax Policy Center, "Major Enacted Tax Legislation, 1990-99," (accessed Dec. 13, 2012)
29.David Lynch, "Raising Taxes Isn’t a 'Kiss of Death' for Employment Growth, History Shows,”, June 1, 2011
30.John Steele Gordon, "A Short History of the Income Tax,", Sep. 27, 2011
31.Brian Bass, "Corporation Excise Tax Act of 1909," (accessed Nov. 29, 2012)
32.Reuven Avi-Yonah, "Corporate Income Tax Act of 1909," Major Acts of Congress, 2004
33.Organisation of Economic Co-operation and Development, "Taxation of Corporate and Capital Income,", 2012
34.Philip Dittmer, "US Corporations Suffer High Effective Tax Rates by International Standards,", Sep. 2011
35.Joseph Thorndike, "Historical Perspective: Sacrifice and Surcharge,", Dec. 5, 2005
36.Tax Policy Center, "Major Enacted Tax Legislation, 1960-69," (accessed Dec. 13, 2012)
37.Bill Bradley, "Tax Reform's Lesson for Health Care Reform,", Aug. 29, 2009
38.Tom Dickinson, "How the GOP Became the Party of the Rich,", Nov. 9, 2011
39.The Film Archive, "Budget Bill Signing: President Clinton Signing the Omnibus Budget Reconciliation Act,", Aug. 10, 1993
40.Michael Wines, "Two Business Groups Attack Tax Plan,", May 11, 1993
41.Meet the Facts, "Tag: Omnibus Budget Reconciliation Act of 1993,", Aug. 4, 2010
42.White House, "Cutting Waste, Reducing the Deficit, and Asking All to Pay Their Fair Share,", Feb. 2012
43.Jeanne Sahadi, "Corporate Taxes: What Obama and Romney Would Do,", Sep. 7, 2012
44.The White House and the Department of the Treasury, "The President's Framework for Business Tax Reform,", Feb. 2012
45.Mark Keightley, "The Corporate Income Tax System: Overview and Options for Reform,", Sep. 13, 2012
46.The White House and the Department of the Treasury, "The President's Framework for Business Tax Reform: An Update,", Apr. 2016
47.Kyle Pomerleau, "CBO Report Compares U.S. Corporate Tax to G20,", Mar. 16, 2017
48.Thomas Content and Cary Spivak, "After Getting Taxpayers' Help, Johnson Controls Packs Its Bags,", Jan. 30, 2016
49.Thomas A. Barthold, Letter to Rep. Kevin Brady (R-TX) and Rep. Richard Neal (D-MA),, Aug. 3, 2016
50.Øystein Bieltvedt Skeie, "International Differences in Corporate Taxation, Foreign Direct Investment and Tax Revenues,", Feb. 6, 2017
51.Patricia Cohen, "Profitable Companies, No Taxes: Here's How They Did It,", Mar. 9, 2017
52.Congressional Budget Office, "Policies for Increasing Economic Growth and Employment in 2010 and 2011,", Jan. 2010
53.Marshall Steinbaum and Eric Harris Bernstein, "Fool Me Once: Why Another Corporate Tax Cut Won't Boost the Economy,", Feb. 16, 2017
54.Moody's Investors Service , "Moody's: US Corporate Cash Pile, Led by Tech Sector, to Grow to $1.77 Trillion by End of 2016," Nov. 3, 2016
55.Chris Edwards, "Thankfully, GOP Tax Plan Retains Bold Corporate Rate Cut,", Nov. 4, 2017
56.Damian Paletta, Mike DeBonis, and Ed O'Keefe, "Senate GOP Tax Bill Could Delay Corporate Tax Cut and Make Other Major Changes That Break Sharply with House Plan,", Nov. 7, 2017
57.Naomi Jagoda and Niv Elis, "GOP Tax Bill Clears Hurdle, Heads to House Floor,", Nov. 9, 2017
58.Lauren Fox, "Senate Republicans Unveil Their Own Tax Plan,", Nov. 9, 2017
59.Jennifer Jacobs and Sahil Kapur, "Trump Says He Wants 15% Corporate Tax Rate Despite Plan for 20%,", Sep. 23, 2017
60.Bob Bryan, "Trump Gives a New 'Red Line' for His Corporate Tax Rate,", Sep. 27, 2017
61.Pew Research Center, "Republicans More Split Than Democrats on Tax Rates for Corporations, High Incomes,", Sep. 27, 2017
62.United States Congress, "H.R.1 - an Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018," (accessed Feb. 5, 2018)
63.Office of the Law Revision Counsel, "26 USC 11: Tax Imposed," (accessed Feb. 5, 2018)
64.Jeanne Sahadi and Chris Isadore, "Tax Law, Bonuses and Raises: 5 Things You Need to Know,", Feb. 22, 2018
65.Congressional Budget Office, "The Budget and Economic Outlook: 2018 to 2028,", Apr. 2018
66.WTVA News, "Tax Cut Scorecard: Workers $6 Billion; Shareholders $171 Billion,", Feb. 16, 2018
67.Organisation of Economic Co-operation and Development, "Statutory Corporate Income Tax Rate,", 2016
68.US Department of Labor, "Federal Government Receipts and Expenditures," (accessed June 11, 2018)
69.Matt Egan, "Just 4% of Companies Boosted Hiring Because of Tax Cuts,", Jan. 29, 2019


Anheuser-Busch, "Anheuser-Busch InBev Announces Work Reductions in the U.S,”, Dec. 8, 2008
Binyamin Appelbaum, "Tax Burden for Most Americans Is Lower Than in the 1980s,", Nov. 29, 2012
Wiji Arulampalam, "The Direct Incidence of Corporate Income Tax on Wages," Institute for the Study of Labor website, Nov. 8, 2010
Andrew Balls, "How Government Spending Slows Growth,”, (accessed July 16, 2012)
Robert Carroll, "Corporate Taxes and Wages: Evidence from the 50 States,”, Aug. 2009
Citizens for Tax Justice, "Important Congressional Tax Votes, 1981-1999," (accessed Dec. 5, 2012)
Congressional Budget Office, "The Budget and Economic Outlook: Fiscal Years 2010 to 2020" ,, Jan. 2010
Government Printing Office, "How Business Tax Reform Can Encourage Job Creation: Hearing before the Committee on Ways and Means,", June 2, 2011
Jane Gravelle, "International Corporate Tax Rate Comparisons and Policy Implications,", Mar. 31, 2011
HR World, "10 Big Businesses that Have Moved Their Headquarters Abroad to Pay Less U.S. Taxes,", June 4, 2008
Joint Committee on Taxation, "Testimony of the Staff of the Joint Committee on Taxation Before the Joint Select Committee on Deficit Reduction" ,, Sep. 22, 2011
Aparna Malthur, "How Taxing the Rich Harms the Middle Class,", Feb. 15, 2012
Organisation of Economic Co-operation and Development, "Taxation of Corporate and Capital Income,", 2012
Tax Policy Center, "Historical Corporate Top Tax Rate and Bracket: 1909-2010,", July 4, 2011
United States Treasury, "General Explanations of the Administration's Fiscal Year 2013 Revenue Proposals" ,, Feb. 2012