In a roundtable discussion, several executives discussed today’s corporate income tax and the fundamental assertions on which it is based and how political factors might be overcome to drive effective reform. PwC principal Andrew Lyon said an increase in the corporate tax rate appeals to many US voters who believe that corporations are not paying their fair share of taxes and are worried about widening income inequality. But, in a world of mobile capital, raising the corporate tax rate would be a bad way to generate revenue, a bad way to increase the tax system’s progressivity, and a bad way to help American workers. UNC Kenan-Flagler dean Douglas Shackelford said the foundation for the current corporate income tax system is financial accounting. Tax Foundation chief economist William McBride said capital income and particularly corporate income is extremely sensitive to taxation.