Image of the Day: U.S. Corporate Tax Rate Remains Too High
As 2025 approaches, a critical debate over extending the 2017 Trump tax cuts that finally ended America’s inglorious status as the developed world’s highest corporate tax rate looms. Important in that debate is something that many people may find surprising: America’s corporate tax rate remains too high. As our friends at the Tax Foundation highlight, at 25.8%, it stands above the worldwide average of 23.51%. Something to keep in mind when opponents of tax reform and greater global competitiveness attempt to mischaracterize our current rate as somehow too low.
U.S. 25.8% Corporate Tax Rate Remains Too High
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