Collect Unpaid Taxes Rather Than Raise Corporate Rate

IRS Commissioner Chuck Rettig’s recent comments before my former colleagues on the Senate Finance Committee represents the larger problem with any proposal to raise the federal corporate income tax rate. As Commissioner Rettig noted last month, “The amount of taxes going uncollected by the federal government could be as much as trillion or more per year,” an estimate “far beyond the official 1 billion difference between taxes paid and taxes owed annually.” Any increase to our country’s globally competitive corporate tax rate would be the wrong solution to the wrong problem. Worse still,…