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)
