Book contents
- Toward an Inframarginal Revolution
- Toward an Inframarginal Revolution
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Acknowledgments
- 1 Introduction to Inframarginalism and This Volume
- 2 A New Corporate Tax
- 3 The Progressive Case against Antimonopolism
- 4 An Inframarginalist Argument for Mandating the Use of Pro-Consumer Boilerplate
- 5 Inframarginalism and the Distributive Corollary of the Coase Theorem
- 6 Distributive Consequences of Regulating Boilerplate
- 7 (How) Does Competition Law Address Quality?
- 8 Self-Colonization in American Law
- 9 Taxing Imputed Land Rent
- 10 A Neo-Kantian Approach to Competition Law?
- 11 Is Commodity Private Property Inherently Regressive?
- 12 The EU Regulatory Patchwork for Dark Patterns
- 13 Inframarginalism and Economism
- 14 Hipster Antiplagiarism
- Index
2 - A New Corporate Tax
Published online by Cambridge University Press: 26 September 2025
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Book contents
- Toward an Inframarginal Revolution
- Toward an Inframarginal Revolution
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Acknowledgments
- 1 Introduction to Inframarginalism and This Volume
- 2 A New Corporate Tax
- 3 The Progressive Case against Antimonopolism
- 4 An Inframarginalist Argument for Mandating the Use of Pro-Consumer Boilerplate
- 5 Inframarginalism and the Distributive Corollary of the Coase Theorem
- 6 Distributive Consequences of Regulating Boilerplate
- 7 (How) Does Competition Law Address Quality?
- 8 Self-Colonization in American Law
- 9 Taxing Imputed Land Rent
- 10 A Neo-Kantian Approach to Competition Law?
- 11 Is Commodity Private Property Inherently Regressive?
- 12 The EU Regulatory Patchwork for Dark Patterns
- 13 Inframarginalism and Economism
- 14 Hipster Antiplagiarism
- Index
Summary
The US corporate tax is over 100 years old, and many academic observers have doubted its value. The standard explanation for why we tax corporations is that it is an indirect tax on shareholders, but that is not a valid reason to have a corporate tax because (a) shareholders can be taxed directly and (b) many shareholders are tax-exempt and should not be taxed at all. However, there is another reason to tax corporations, which was in fact the original rationale why we adopted the corporate tax in 1909: to limit the power of large monopolistic corporations and regulate their activities. If that is the reason for the corporate tax, the US should have a different tax structure than the current 21 percent flat tax. The corporate tax should be set at zero for normal returns and at a sharply progressive rate for supernormal returns (rents).
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- Toward an Inframarginal RevolutionRedistributing the Gains from Trade, pp. 31 - 44Publisher: Cambridge University PressPrint publication year: 2025
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