Morning Tax

Source: Politico

IS A 9 PERCENT TAX THE ANSWER? A new report being released today by the National Center for Policy Analysis’s Laurence Kotlikoff argues that Congress could solve many of the economy’s woes by ditching the current corporate tax model and instituting a 9 percent flat tax on all income. That, Kotlikoff told Morning Tax, would raise GDP by 6 percent and boost wages by nearly 9 percent. “It would be a positive for workers and wage-earners because corporations would bring their capital back into the U.S. and foreign companies would be more interested in working here,” said Kotlikoff, a former consultant for Merrill Lynch, Fidelity Investments and AT&T.

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