The major potential impact of a corporate tax overhaul

The United States system for taxing businesses is a mess. If there’s one thing nearly everyone can agree upon, it is that.

The current corporate income tax manages the weird trick of both taxing companies at a higher statutory rate than other advanced countries while collecting less money, as a percentage of the overall economy, than most of them. It is infinitely complicated and it gives companies incentives to borrow too much money and move operations to countries with lower tax rates.

Now, the moment for trying to fix all of that appears to have arrived. With the House, Senate and presidency