World Could Teach U.S. a Lesson on Corporate Tax Rates (://URLFAN)

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World Could Teach U.S. a Lesson on Corporate Tax Rates

Post Date: Sep 29, 2008 6:04 p.m.
Ranked website: reason.org (Ranks #10886 of 3,783,534)

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In the presidential debate the other night, Senator McCain raised the issue of corporate taxes in Ireland, which are far lower than in the US and are widely recognized as a critical piece of that country’s economic resurgence over the last two decades. Hopefully that message won’t be lost amid the politics of the campaign season. From the Tax Foundation : The accounting firm KPMG has released its annual survey of corporate and indirect tax rates for 2008, and what it says about America’s tax competitiveness is not good. The survey shows that the U.S. continues to have one of the highest overall corporate tax rates in the world. Of the 106 countries surveyed, only The United Arab Emirates (55 percent), Kuwait (55 percent), and Japan (40.69 percent) impose a higher corporate tax rate than the combined rate of 40 percent in the U.S. According to the KPMG report: ...the most remarkable result of our 2008 survey is that we have found no ...

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