Posts Tagged ‘Corporate tax’
To put that in perspective, the average in the developed world (OECD) is only 25 percent. Our six major trading partners–Canada, Mexico, the United Kingdom, Japan, Germany, and France–will all have a lower rate than we will have. As a result, capital and jobs will continue to flow overseas, rather than staying here to create jobs, increase wages, fund pensions, invest in new business, or grow nest eggs.
|Country||Corporate Income Tax Rate|
President Obama last month proposed a plan to raise net taxes, but in the process lower the U.S. corporate rate to about 32 percent. That simply isn’t worth it. In exchange for a jobs-killing net tax hike, the Obama plan would still leave us with a tax rate higher than the OECD average, and higher than all our major trading partners except Japan and France. No thanks, Mr. President.
And people wonder why American corporations are leaving the U.S.! -JRoycroft