Monday, April 9, 2012

U.S. Now Number One in Corporate Taxes

The United States now has the highest corporate tax rate in the world. Japan previously had the highest rate, but on April 1 it lowered it’s rate to 36.8 percent, leaving the U.S. effective rate of 39.2 percent the highest in the world.
We have finally surpassed all other countries and are now number one again. But it's not as the most powerful nation in the world, or in manufacturing, value of our currency, highest bond rating and highest standard of living or income.
We have an unsustainable debt, high taxes, most regulations and red tape to do business in the good ole' US of A plus we are now number uno in highest corporate taxes. With Obama at the helm we are now Hope and Change...we Hope for a knowledgeable and Change for the better President. be ###
 This gaping disparity,” explains The Heritage Foundation’s Curtis Dubay (The Foundry, March 30),
… means every other country that we compete with for new investment is better situated to land that new investment and the jobs that come with it, because the after-tax return from that investment promises to be higher in those lower-taxed nations.
Our high rate also makes our businesses prime targets for takeovers by businesses headquartered in foreign countries, because their worldwide profits are no longer subject to the highest-in-the-world U.S. corporate tax rate. Until Congress cuts the rate, more and more iconic U.S. businesses such as Anheuser-Busch will be bought by their foreign competitors.