US tax reform will be a slog
Washington
TAX "reform", starting with taxes on business, seems to be on everyone's agenda, and it may be a place where the incoming Trump administration and its Democratic critics find common ground. But it's still going to be a slog, and one reason is so-called "pass-through" businesses whose taxes are levied at personal income tax rates.
When we think of business, the image that usually pops to mind is of the giant corporation: Google, General Motors, Procter & Gamble and their ilk. To be sure, these massive enterprises (known as "C" corporations) seem to dominate the business landscape and have their own tax rules, with a top federal rate of 35 per cent.
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