So, if all that happened was that the tax savings of 2.0 percentage points of GDP and some of the savings in tax compliance costs got reinvested, eliminating the corporate income tax would increase U.S. economic growth by 1.0 percentage point.

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They were options for tax simplication, improving compliance with existing law and improving corporate income taxation.

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Tax compliance increased and the inflation-adjusted revenues from the personal income tax rose more than 20 percent annually during the three years following the adoption of the flat-rate tax.

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The only thing better than cutting the corporate income tax to 12.5% would be to eliminate it (and its huge compliance costs) completely.

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