id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ftr-335	Behrens, Michael A.	Citizens United, Tax Policy, and Corporate Governance	2022	40	.pdf	application/pdf	17297	776	46	In his 1909 address to Congress, President Taft identified restricting managerial abuses of power as the primary reason for enacting a corporate tax, and the same theme predominated in the Congressional debate over the tax that ensued.118 As we have seen, a related notion underlies dividend rate reform - the idea that pressuring managers to pay dividends and therefore distribute retained earnings serves as a constraint on managerial power.119 Therefore, it seems reasonable to postulate that giving managers a powerful new tool with which to pursue corporate tax subsidies that reduce corporate tax, without countervailing measures to ensure that shareholder interests are protected as well, will increase the likelihood of agency costs. First, due to the peculiar structure of corporate tax, notably the corporate double tax, tax issues are particularly divisive as between corporate constituents.	cache/ftr-335.pdf	txt/ftr-335.txt