In this episode, hosts Jules van Binsbergen and Jonathan Berk discuss the complexities of the corporate income tax with former Treasury Secretary Larry Summers, who argues for retaining the tax.Summers explains why taxing corporations is one of the most effective tools the federal government has in making sure the wealthy pay their fair share. Might there be room for improvement? Yes, Summers says, but don’t abolish it. “Before we are critical of that tax, we better make awfully sure that we have a superior alternative.”Follow and provide feedback for the All Else Equal Podcast on LinkedIn.For more information and episodes, visit AllElseEqualPodcast.com.All Else Equal is a podcast produced by Stanford Graduate School of Business. It is hosted by Jonathan Berk, professor of finance at Stanford GSB, and Jules van Binsbergen, professor of finance, at The Wharton School. Each episode provides insight into how to make better decisions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.