Home > Uncategorized > America…2nd highest corporate tax rate. Still.

America…2nd highest corporate tax rate. Still.

Unemployment continues to creep higher and higher with jobs fleeing the United States and the answer could be hiding in plain sight.

From the Tax Foundation:

Washington, DC – Canada, the Czech Republic, Korea, and Sweden all cut their corporate tax rates in 2009, distancing the United States even further from the pack with its combined federal and state rate of 39.1 percent—second only to Japan for the highest corporate tax rate among nations in the Organization for Economic Cooperation and Development (OECD). A Tax Foundation analysis of new OECD data finds that 2009 marks the 12th consecutive year in which the U.S. corporate tax rate is higher than the average rate among non-U.S. OECD nations—and roughly 50 percent higher than that of a mid-ranked country such as Sweden. …Read the rest here

Capital goes where it is treated the best. The business environment that the government has created is the second worst in the world. If you were a company and had a choice to be in the United States or somewhere else around the world, where would you go?

If the government truly wanted to see this economy grow at record pace, they would cut corporate tax rates or do away with them entirely. But wait, we can’t have those greedy businesses stealing earning those pesky profits now can we?

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