In the early days, it was much harder to form and maintain meaningful partnerships, and our outcomes were more marginal as a result.

FORBES: Connect

In its place we can then simplify personal taxation: just treat all investment income (yes, dividends and capital gains) the same as we treat any other form of income, to be taxed at whatever is the appropriate marginal rate for the total income of the recipient.

FORBES: Yes, Let's Design A New International Corporate Tax System. Let's Not Tax Corporations At All

But to charge both the full rate of the corporate income tax and then the top marginal income tax rate means that dividends will be taxed more highly than any other form of income.

FORBES: Obama's Budget Raises Dividend Taxes to 39.6%: This is Not a Good Idea