National Journal: Sen. Levin, Small Businesses Push for Corporate Tax Hikes

By Niraj Chokshi
National Journal, December 14, 2012 

It’s time to raise corporate taxes, Sen. Carl Levin, D-Mich., and small business owners said on Friday.

Tax-evasion tactics have led to an increasingly smaller effective tax rate for big corporations, putting smaller businesses at a competitive disadvantage, Levin and two small business owners said on a conference call with reporters. But the current fiscal negotiations offer a chance to right that wrong.

“It is very unfair to the American taxpayer, it robs the U.S. Treasury of needed revenues, it’s unfair to any competitors who don’t use these offshore gimmicks and these corporate loopholes,” Levin said. It’s time, he said, to return corporate taxes to historical levels. ...

Some executives have pushed for “revenue-neutral” reform, which would simplify the corporate tax code, but leave the amount corporations pay roughly the same. ...

Friday's call was hosted by the American Sustainable Business Council, Business for Shared Prosperity and the Main Street Alliance, which are collecting signatures for a letter to Congress and President Obama to reform the tax system in a way "that is fair and provides sufficient revenue for the public services and infrastructure that underpin our economy."

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