Pres. Reagan's State of the Union speeches: on Corporations

Reduce corporate tax rates & keep incentives for capital

One thing that tax reform will not be is a tax increase in disguise. We will not jeopardize the mortgage interest deduction that families need. We will reduce personal tax rates as low as possible by removing many tax preferences. We will propose a top rate of no more than 35%, and possibly lower. And we will propose reducing corporate rates, while maintaining incentives for capital formation.

Tax simplification will be a giant step toward unleashing the tremendous pent-up power of our economy. But a second American revolution must carry the promise of opportunity for all. It is time to liberate the spirit of enterprise in the most distressed areas of our country.