MEGAN MCARDLE: Why I Still Think We Should Eliminate The Corporate Income Tax. “I think the thing’s horribly inefficient–companies and rich people spend an exorbitant amount of time arranging their affairs to be lower-taxed, rather than more productive. Taxing capital once, when it hits a person, as ordinary income, would in one fell swoop eliminate most of the tax-avoidance activity that goes on in this country. It’s also not necessarily as progressive as its proponents think.”

Plus this: “If we really hate corporate power, we’d probably want to look at the things that entrench it–like heavy regulatory burdens that are more easily borne by large, powerful companies. But this is not an argument that ever gets much traction outside of some economists, and the libertarian community. Which makes me think that the corporate income tax is largely expressive–we like policies which penalize corporations, particularly big ones, regardless of their actual effect on corporate power.”