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Rerun: Ep6 "Can (and Should) Corporations Be Taxed?" with Larry Summers
All Else Equal: Making Better Decisions
Optimizing Tax Strategies for Corporations
For most individuals, hiring a lobbyist to lower taxes is not cost-effective compared to just paying taxes. However, for corporations, the cost of tax avoidance can be shared among equity holders, making it optimal to hire a lobbyist to reduce taxes. Corporations can collectively engage in tax avoidance activities through lobbyists since the tax burden is shared. The data reflects that corporations are actively avoiding taxes, considering that corporate tax revenue is only 7% of the total government revenue. Lobbyists advocating for corporate interests in Washington have a significant impact on democracy.
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