Letters to the Editor

Get rid of corporate income tax

Just read your Sunday, Sept. 17, opinion pro/con regarding the corporate income tax rate. Look it up. Corporate income taxes bring in less than 10 percent of federal revenue. You want to really grow the economy and make the U.S. a manufacturing magnate? Get rid of this tax and vigorously enforce the accumulated earnings tax that would force corporations to pay dividends out of unreinvested earnings.

Last time I checked, corporate dividends were fully taxable at ordinary rates. Treat S corporations the same way. An additional benefit with zero corporate income taxes is that we could get rid of all the special interest loopholes.

Lee Drocco, Morro Bay

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