St. Thomas Law Review
First Page
125
Document Type
Comment
Abstract
Corporate America has long been the standard for business, serving as a beacon of hope to aspiring pioneers, entrepreneurs, liars, cheats, and frauds. With the rise of consumerism, citizens have become increasingly reliant on goods provided by corporations for their survival, as a result of local and familyowned businesses slowly disappearing due to acquisitions, takeovers, or bankruptcy filings. Subsequently, corporations today are more profitable, accounting for inflation, than ever before in American history. Ironically, however, corporate taxes are contributing less to the United States (U.S.) Gross Domestic Product (“GDP”) than ever before. Through the current system of tax collection, revenue falls entirely short of spending, resulting in a national debt of over $36 trillion dollars and counting. This paper will explore the open door: the corporate exploitation of existing loopholes in the tax code to effectuate lower tax liability and the reasons behind the legality of such exploitation. Lastly, this paper will present possible solutions to permanently close the door, thus ensuring corporations are fairly taxed on their gains.
Recommended Citation
Michael Fouladi,
Closing the Open Door: Curbing the Corporate Exploitation of Tax Loopholes,
38
St. Thomas L. Rev.
125
(2026).
Available at:
https://scholarship.stu.edu/stlr/vol38/iss2/3