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Stop the Corporate Punishment

By Quin Hillyer
Tuesday, April 03 2012

Americans businesses were turned into April Fools on Sunday when a cut in Japan's top corporate income tax rate left the United States with the highest such rate in the developed world -- including Communist China's. With Great Britain also slicing rates this month from 26 percent to 24 percent, the U.S. average top rate (federal and state combined) of 39.2 percent stands as a tremendous barrier to economic growth, higher incomes and job creation. Faced with evidence of the ill effects of these high American rates, even Bill Clinton and Barack Obama have paid lip service to cutting them. Yet they…

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