I tend to agree with Marcus Ryu’s observation in his New York Times op-ed:
As an entrepreneur myself and a friend to many others, I know that lower tax rates will not motivate more people to start companies. People start companies for many reasons: a compelling idea, ambition for fame and fortune, a desire to be one’s own boss, frustration with one’s employer. I have never heard someone say, “I would have started a company, but tax rates were too high” or “I wouldn’t have started this company, but then George W. Bush cut tax rates, so I did.”
to the effect that cutting corporate income tax rates won’t increase the number of jobs. What he neglects to consider is that our present corporate tax code is already costing jobs and, worse, they’re the very sorts of jobs we need—managerial jobs, higher staff jobs—and replaced with nothing. “Inversions” to avoid the U. S.’s tax rates have taken place and continue to take place and when they do whole corporate headquarters move, too, taking their highly compensated jobs with them.
The corporate income tax is a very inefficient tax and the U. S. corporate tax code is out of line with those of other OECD countries. Reducing corporate tax rates wouldn’t be a master stroke that solves all of our economic problems but it would be a step in the right direction. If you’re concerned about its potential for worsening income inequality, increase the personal income tax rates.