“We may well find we can reduce the overall corporate tax rate. That would be good news”, Patrick said. But he quickly added: “I want to defer to the commission.”
I know this is in poor fashion but I do recall someone (all right it was me) saying
How about a win/win. We cut the rate and tighten the loopholes. Then the only ones making less money are the lawyers
To which our resident fiscal conservative (Gary) said.
Because that would take leadership and would involve political risk.
Someone may have some words to eat…
The big question is if there is a closing of the tax loophole with a tax cut, what will be the end result? A tax cut, a raising of taxes or a wash. And perhaps more interestingly what say you?