A 20% Tax Rate With a 20% AMT leaves nowhere to hide the profits

This “success by accident” will be fixed, and Congress will figure out how to make their donors happy. In the meantime, it is nice to know that it is possible to pass a tax bill that actually requires corporations to pay up.

The Senate bill brings the normal corporate rate down to 20 percent — while leaving the alternative minimum rate at … 20 percent. The legislation would still allow corporations to claim a wide variety of tax credits and deductions — it just renders all them completely worthless. Companies can either take no deductions, and pay a 20 percent rate — or take lots of deductions … and pay a 20 percent rate.