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Today’s Wall Street Journal has a great column by Glenn Hubbard, Dean of the Columbia University business school and former chairman of the President’s Council of Economic Advisers. I think it’s a great column because it reflects the key points of a commentary I wrote 15 years ago: Business Taxation: A Loose Cannon on a Dark Night, published by Cascade Policy Institute.
Hubbard and I agree that (in my words): "No business ever pays any tax…. Only people pay taxes."
We also agree that business taxes are frequently passed on to workers, reducing economic activity. He cites several pieces of academic research published since my original paper. Glenn, glad to have you agreement.