Combating market power through a graduated U.S. corporate income tax

“The importance of market power today suggests that corporate tax policy should distinguish between normal returns to capital and above-normal returns to capital, the latter of which is a telling indicator of corporations’ market power.”

The article lost me right there. This approach would generate all kinds of distortions. I remember helping someone with their books with an S corp- the consequence were bizarre.

I’d be way more in favor of some basic solutions which are well understood - an actual minimum corporate tax rate, a real wealth tax, and reinstate the laws whose repeal caused the “financialization” of the economy.