For too long, corporate tax policy in the US has been seen by policymakers—incorrectly—as incompatible with economic growth and unrelated to social equity. In a new two-part report series, the Roosevelt Institute explores how political decisions to slash corporate taxes, fueled by decades of neoliberal ideology, have undermined robust social welfare policy.
In the first paper, Emily DiVito and Niko Lusiani of Roosevelt’s corporate power program lay out how the functions of corporate tax—raising revenue, redistributing wealth, restructuring markets, and enhancing democratic representation—can be used to improve the well-being of children and families in the areas of income, wealth, employment, education, childcare, and climate.
The second report, a historical overview, traces the changing narratives about corporate taxation and social welfare from the New Deal era through the Reagan, H.W. Bush, Clinton, George W. Bush, Obama, and Trump presidencies. Authored by University of Michigan law professor Reuven S. Avi-Yonah, DiVito, and Lusiani, the report explains how the idea that taxes need to be “cut to grow” the economy harmed child and family well-being.
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