Corporations use all sorts of complex stratagems to move their profits overseas, and thus escape the U.S. income tax.
T.R. ReidWhen it comes to taxation, Americans are still banging out letters on a typewriter and dropping them in the mail box while everybody else has moved on to texting and Instagram.
T.R. ReidIf you get rid of all these giveaways and loopholes and deductions and credits, then you can sharply lower the rates.
T.R. ReidIt was an easy thing to tax for a young country. And then gradually we moved to property taxes, manufacturing taxes, and the income tax was the answer to a populist demand: Let's go after the rich guys. We got into World War I, and they raised the rates and started taxing the rich. Then we got into World War II, and that's when they taxed everybody, because they just needed more revenue.
T.R. Reid