U.S. Corporate Income Taxes: Countdown to #1
March 5, 2012
With the U.S. corporate income tax rate soon to become the highest in the developed world, a lot of people are drawing attention to the resulting impacts on workers, consumers, and investors. The RATE Coalition has the following video:
Americans for Tax Reform has also highlighted the “race to number one.”
Of course the Tax Foundation laid the groundwork for reform of corporate tax policy much longer ago, with studies by Scott Hodge like Ten Benefits of Cutting the U.S. Corporate Tax Rate and Ten Reasons the U.S. Should Move to a Territorial System of Taxing Foreign Earnings last summer and Beyond the Headlines: What Do Corporations Pay in Income Tax?, by William McBride and U.S. Corporations Suffer High Effective Tax Rates by International Standards, by Philip Dittmer in September.
We also have our own video series on corporate taxes and the need for reform. It starts with the story of how the U.S. fell behind its major trading partners by stading still as other nations lowered their rates: