FINANCE
From Times Staff and Wire Reports
Treasury Says Tax System Thwarts Investment: Streamlining the corporate tax system by eliminating double taxation on corporate profits would help U.S. companies compete better in global markets and raise as much as $500 billion in fresh investment capital, according to a Treasury Department study. The current system of taxing both corporate profits and dividends paid to shareholders encourages already debt-laden companies to borrow to finance investment, the study concluded.
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