That is very true. In practice, however, there are so many exceptions and loopholes in corporate income tax that corporations end up paying on average only something around 12% of income as tax.
That doesn’t take into account the deadweight loss involved in jumping through hoops to get all those exceptions and loopholes. And in any case the fundamental problem is the existence of the exceptions and loopholes in corporate income tax, not the low capital gains tax.
That doesn’t take into account the deadweight loss involved in jumping through hoops to get all those exceptions and loopholes. And in any case the fundamental problem is the existence of the exceptions and loopholes in corporate income tax, not the low capital gains tax.