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But we saved everything 🙂.
Kyle Pomerleau highlights that although expensing has increased compared to earlier periods, significant issues persist within the corporate tax system.
He notes that U.S. debt continues to be largely deductible, roughly 50 percent of capital stock is not expensed, and returns to profit shifting remain positive and potentially sizable. These ongoing challenges suggest that raising the corporate tax rate would be unwise.
These ongoing corporate tax complexities align with broader fiscal challenges, as similar concerns have arisen in discussions on the impact of the capital gains exclusion on homeowner tax liability. Questions surrounding the U.S. tax landscape also parallel debates regarding the definition of excess savings and the implications of the trade deficit, underscoring the interconnected nature of fiscal and economic policy.