STAFF NEWS & ANALYSIS

Abolish Corporations

By Daily Bell Staff – November 29, 2016

Don’t Lower Corporate Taxes. Abolish Them … Lowering the corporate tax rate appears to be all the rage. Donald Trump has promised a cut to 15 percent from 35 percent in the U.S., and British Prime Minister Theresa May has pledged to make the U.K.’s corporate tax the lowest in the G-20, which would mean taking it lower than Trump intends to … Now that business-friendly governments appear to have some leeway, they should go back to the old idea of eliminating corporate levies and just taxing personal income and consumption. – Bloomberg

Bloomberg is suggesting in this article that corporate taxes should be abolished because corporations will make more money and that in turn will benefit their workers and society generally.

But what the West’s newly “populist” governments ought to do