The U.S. Has the Highest Corporate Income Tax Rate in the Industrialized World
The next time some Obamabot tries to tell you American corporations aren’t paying their “fair share” in taxes, show them this chart.
See that bottom red line? The one that says “United States?”
Yeah, Barack Obama, Harry Reid, Hillary Clinton, and pretty much all Democrats believe a corporate tax rate of 39.1% is not high enough.
Sane people might disagree.
Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.
Can you see why Burger King wants to pay taxes in Canada? They’ll save 13% overnight!
The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).
“With the developed world’s highest corporate tax rate at over 39% including state levies, plus a rare demand that money earned overseas should be taxed as if it were earned domestically, the U.S. is almost in a class by itself. It ranks just behind Spain and Italy, of all economic humiliations. America did beat Portugal and France, which is currently run by an avowed socialist.
Well, to be fair, America is currently being run by an avowed socialist, too.
And when I say “run,” I mean Into The Ground. Barack Obama is running America into the ground. He seems to be enjoying it, too.