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Business tax cuts vs. corporate loopholes

From NBC/NJ's Adam Aigner-Treworgy
United States business taxes are the second highest in the world...
 
"I want to cut that business tax," McCain said.
 
Many voters don't understand what the U.S. business tax is, and when McCain uses that line at rallies and town halls it always gets a big gasp. It could be pretty effective, but it's never had much of a pushback. What do people hate more, high business taxes or corporate loopholes?