It’s usually best to not take sides in another family’s quarrel. But when Bill Clinton says we should reduce the corporate tax rate, and Hillary Clinton said we shouldn’t, then we’ve got to side with Bill. He’s right. Our excessively high corporate tax rate is acting as a drag on our economy.

Here’s what Bill Clinton said in September:

“I was the president who urged it to be raised to 35 percent, but when I did it, it was precisely in the middle of OECD (Organisation for Economic Cooperation and Development) countries. It isn’t anymore. I think it should be lowered. This is just me now. I’m not speaking for.”

At that point in his conversation with a CNBC reporter, he trailed off, and didn’t say who he wasn’t speaking for. But it’s pretty clear he wasn’t speaking for his wife.

“Hillary Clinton would oppose lowering the corporate tax rate as president, a top advisor suggested,” Americans for Tax Reform reported recently. “This position puts the campaign far outside the mainstream of both Democrats and Republicans including President Barack Obama and Speaker Paul Ryan who have called for lowering the 35 percent federal income tax rate to a more globally competitive rate.”

Clinton’s advisor, Neera Tanden said “the U.S. has been doing pretty well when it comes to competitiveness.”

ATR disputes that claim.

“Our businesses cannot compete with those in the rest of the world,” the group reports. “Close to 50 American businesses have left the country through an inversion in the past decade, according to data compiled by Democrats on the Ways and Means Committee. America has also lost an additional $179 billion worth of assets through acquisitions by foreign competitors, according to a report by Ernst and Young.”

Let’s talk about what would happen if we did lower that tax rate. It would shift our economy into high gear.

“I think the solution is as simple as the problem: Permanently cut the federal corporate rate to somewhere around 15 percent to encourage American companies to locate more operations, and more employees, right here in the U.S.,” writes Bill Bischoff for Market Watch. “Would that cripple corporate tax revenues and make the already-huge federal budget deficit even bigger? I doubt it. Corporate tax collections would almost certainly go up, because 15 percent of a large and growing pie is more than 35 percent of a smaller and ever-shrinking pie… Plus, if we add lots good paying jobs in this country, personal federal income tax collections will go up. That would offset and probably surpass any loss of corporate tax revenue (though I doubt there would be any loss).”

A rate cut should also be accompanied by overall corporate tax reform – ending the special treatment demanded by lobbyists.

“Cut the corporate tax rate to create jobs, kill the corporate welfare hiding in our absurdly complicated tax rules and hopefully put a few hundred K Street lobbyists in the unemployment line along the way,” Bischoff urges.

He’s right. And so is Bill Clinton.