David Cay Johnston dissects the manufacturing tax proposal
Reuters columnist David Cay Johnston has zeroed in this week on President Obama’s proposal to apply a lower tax rate to manufacturers. It’s an idea that may sound appealing at first glance, but will, Johnston predicts, end up more about defining the word “manufacturing” than supporting true manufacturing and manufacturing jobs.
In the video below Johnston explains his thesis. His full argument can be found in this column . And over at Double Taxation, Toni Nitti lends his support to the argument, writing :
“even code reform based on good intentions comes with the price of complexity and confusion.”