The overhaul--separate from the AMT fix--would increase standard deductions, double earned income tax credits for some and lower the top corporate marginal tax rate from 35% to 30.5%.

FORBES: Magazine Article

Since then the world has cut more than we have and left the United States with the highest marginal corporate tax rate in the world.

FORBES: The Fiscal Cliff Is Almost Everything the Democrats Want

But to charge both the full rate of the corporate income tax and then the top marginal income tax rate means that dividends will be taxed more highly than any other form of income.

FORBES: Obama's Budget Raises Dividend Taxes to 39.6%: This is Not a Good Idea

Next year in California the effective top marginal tax rate on corporate dividends rises to 74%.

FORBES: Tax on Dividend-Paying Stocks Rising to 74%

Note that closing loopholes may well raise the average corporate rate, on which Democrats and liberals have focused, but it is the marginal tax rate that drives the economy, as discussed above.

FORBES: The GOP Jobs Plan Vs. Obama's