Joe Biden is proposing to finance his badly needed infrastructure program by raising corporate taxes. Business mostly likes the infrastructure program—everything works better when the basics aren’t falling apart—but it doesn’t want to pay for it. Nobody likes paying taxes (well, maybe some oddballs do, but to each their own), but over the last few years, Corporate America has been enjoying the lightest tax burden in history. That needs to change. Graphed below is the effective tax rate—the share of income that’s paid in tax, not the rate that’s on the books,… Read More