Corporate mergers and takeovers have reached their highest levels since 2007, driven in part by companies' desire to leave the U.S. to save tax dollars.
Harvard economist Ken Rogoff says to begin with, the business tax code is too complicated, like the rest of the U.S. tax code, and it was written for a 20th century economy.
Rogoff says there is not enough political will in Washington to undertake the tax reforms needed, but on the other hand, there is no way the U.S. can keep the current corporate tax code.
He discusses that predicament with Here & Now's Jeremy Hobson.
Recent Op-Eds On Corporate Taxes
- New York Times: End Corporate Taxation
- Fortune: Pfizer's bid for AstraZeneca: It's time to reform the U.S. corporate tax system
- MarketWatch: The absurdly simple way to fix the corporate tax system
This segment aired on May 7, 2014.