New Podcast: Richard T. Page of Tulane Law on Corporate Taxes
January 7, 2010
As the Tax Foundation has noted in the past, America’s high corporate tax rate has been hurting our international competitiveness. This week’s Tax Policy Podcast features Richard T. Page, who recently authored a note in the Tulane Journal of International and Comparative Law examining international trends in corporate income, personal income and estate taxes. In order for the United States to remain internationally competitive, Page argues, the federal corporate income tax rate should be lowered from 35 percent to 12.5 percent:
“What’s most alarming here is how quickly the rates have been changing in other countries. So this is not something that’s persisted over time. It’s not like we have had this 14 percentage point gap for decades and we’ve been doing well. No, actually the gap has really significantly expanded recently. For example in Europe in the last 10 years the average corporate income tax rate has dropped 11 percentage points. And despite the economic downturn we’re in, some European countries have continued reducing rates.”
More on corporate taxes is available here.