CompeteUSA YouTube Contest First Prize Winner!
October 29, 2008
Declaring that the “Corporate Tax Must Come Down,” Andrew Patterson of Edmond, Oklahoma won the first prize of $5,000 in the Tax Foundation’s CompeteUSA YouTube Contest with a video called “Tax Attack.” The contest was part of the CompeteUSA campaign which aims at raising awareness of America’s high business tax rates and how those taxes have an impact on our competitiveness, wages, and living standards.
In “Tax Attack,” Patterson highlights that businesses make everyday decisions based on corporate tax systems and that our high business taxes are making American corporations look internationally for their offices, banking, labor and operations. Patterson, who lives in Edmond, Oklahoma, is a business owner himself, providing film and postproduction services to companies including retailers, business firms, nonprofit organizations and natural gas companies.
The CompeteUSA campaign comes on the heels of data showing that America has the second-highest corporate income tax rate in the industrialized world, and that the American worker shoulders a disproportionate amount of the corporate tax. As a result of the America standing still while nine key trading partners cut their corporate tax rates last year, our corporate tax rate is now 50% higher than the OECD average.