In fact, Texas taxes look great to some companies and terrible to others. Capital-intensive operations with lots of buildings, machinery and hard assets? Not so wonderful. Corporate headquarters? Paradise.
.. “There are different kinds of businesses,” Mr. Craymer said. “If you’re capital-intensive, it’s a high-tax state. If you’re in a service business, it’s relatively low tax.”
Revamping the Tax Code
Both want to address the tax code’s two big problems. First, it is inefficient: it imposes high marginal rates on individual and corporate income, which discourages work and investment, but it leaks a colossal $1.1 trillion a year through countless deductions, exemptions and credits. (To put that in perspective, total federal tax revenues are only $2.8 trillion.)