Dueling congressmen faced off last evening (on CNBC) over corporate tax reform… The Democrat suggested we need to scrap the loopholes but to expect push-back from companies that presently exploit the system… His opponent agreed that “loopholes that don’t make sense” can go, but at the end of the day, we can’t have what results in an increase in corporate taxes…I sensed, in the conservative, a hint of hesitation with the “loopholes that don’t make sense” comment…

Now loopholes, by definition, are a means of escape or evasion… And I, for one, would be all for legislation that stamps out all means of escape or evasion… Liberals lobby for what they call tax-fairness… Conservatives for (what I’d call) tax-friendliness. I say we vote for neither… The notion of “tax-fairness” is utter nonsense, for it requires A (being politicians) to determine what’s fair for B (being you) and C (being me)… And as for friendliness, speaking for myself, a small business owner, I desire no chumminess whatsoever from politicians… What I want is freedom!!

The fundamental problem is two-fold… One; we have the second highest corporate tax rate on the planet (Japan says it’s ultimately going to bring its down). And Two; the code is an incredibly illusive labyrinth of loopholes… Close the loopholes, lower the rates, and what do you get? Certainty… Certainty for CEOs as to what the future holds tax-wise… And certainty (in today’s world) would clearly trump a potential increase in taxation when it comes to putting that $trillion+ in corporate cash to work…