The corporate income tax structure is complicated, inefficient, and ineffective. Top U.S. corporations should be paying a tax rate of 35% on their revenues, but through a combination of loopholes, tax credits, and foreign tax havens, they pay an effective rate much lower, around 18%. This tax code works to drive corporations overseas, reduce U.S. jobs, and reduce valuable U.S. tax revenues.
U.S. corporations making more than a pedestrian $75,000 are supposed to pay tax rates in the range of 30-35%, which is excessive and eliminates profit. U.S. citizens are therefore discouraged from incorporating. If the corporate tax were a flat 15%, then more businesses would be created, fewer would fail, more jobs would appear, and companies would stay in the U.S, and tax receipts would increase.