Corporate-tax expenditures narrow the base, raise the cost of tax compliance, and distort decisions about investment projects, how to finance them, what form of business organization to adopt, and where to produce. As Michael Greenstone and Adam Looney show in a just-released report, the resulting differences in effective tax rates for different kinds of business activity are substantial.
公司税支出缩小了税基，提高了守法纳税的成本，也扭曲了投资项目、如何融资、采取何种企业组织形式、在何处生产等方面的决策。格林斯通（Michael Greenstone）和鲁尼（Adam Looney）5月3日最新出版的报告《关于税收改革的若干事实》（http://www.brookings.edu/~/media/Files/rc/papers/2012/05_taxes_greenstone_looney/05_taxes_greenstone_looney.pdf）指出，由此造成的不同企业活动之间有效税率的差异非常大。