Episode Details

As we approach another corporate tax reform debate, and each side brings out its own set of opinions disguised as facts, it is worth remembering that many of the changes in the 2017 corporate tax reform act were long overdue, as the US with increasingly an outlier. While we can debate whether the corporate tax rate was cut too much, companies have responded by increasing their taxable income and reducing tax deferrals. However, the tax credits and deductions added to the US tax code over decades has created a bigger gap between stated and effective tax rates in US companies than elsewhere in the world. If the end game here is to get companies to pay more in taxes, it will be more more effective and equitable to reduce these deductions/credits than it is to raise tax rates.
Slides: http://www.stern.nyu.edu/~adamodar/pdfiles/blog/Taxes2021.pdf
Blog Post: https://aswathdamodaran.blogspot.com/2021/04/the-corporate-tax-burden-facts-and.html
Marginal tax rates, by country: http://www.stern.nyu.edu/~adamodar/pc/datasets/countrytaxrates.xls
Effective tax rates by country: http://www.stern.nyu.edu/~adamodar/pc/datasets/countryefftaxrate.xlsx
Tax Rates by Industry (US): http://www.stern.nyu.edu/~adamodar/pc/datasets/taxrate.xls
Tax Rates by Industry (Global):
http://www.stern.nyu.edu/~adamodar/pc/datasets/taxrateGlobal.xls

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