Data Point – Highest corporate tax rate in the world is the US

by Skip

A #1 honor that is does not bode well:

On Sunday, the United States gets a distinction no nation wants – the world’s highest corporate tax rate.  Japan, which currently has the highest rate in the world — a 39.8% rate on business income between national and local taxes — cuts its rate to 36.8% as of April 1. The U.S. rate stands at 39.2% when both federal and state rates are included.

Determined Weakness: Obama has no intention of lowering it to keep us competitive with the other countries that either have or will be dropping theirs.

(H/T: Greg Mankiw)

 

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