Ezra Klein - Why corporate tax reform will be hard, in one graph But the basic takeaway is that there are plenty of industries that are benefiting from the current corporate tax code, and are likely to fight like hell to preserve the breaks they're currently getting.... And that's really what corporate tax reform will be about. "Loopholes" sound like bad things. "Incentives to plow more revenues into research and development and equipment" don't. Nor do tax breaks to locate manufacturing in America. But that's the sort of stuff we'll have to get rid of to substantially lower the rates in a revenue-neutral way. And this conversation, remember, is going to happen inside a political system that can't even decide to tax the earnings of hedge-fund managers like income.