Washington (Aug. 15, 2003) -- Moving from a corporate income tax to a cash-flow business tax would help eliminate the recent wave of corporate scandals that have battered stockholders and pension plans, according to a new study by the research foundation Cato Institute.

"Tax complexity is an enemy to productive business management and sound investment decisions," concluded Chris Edwards, Cato director of fiscal policy, in "Replacing the Scandal-Plagued Corporate Income Tax with a Cash-Flow Tax."

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