Commentary

We’re #1? America’s 39% Corporate Tax Rate Now Developed World’s Highest

By Timothy H. Lee
Thursday, February 14 2013

Last April, our total corporate tax rate became the world’s highest after Japan reduced its rate several points to 36.8%. Two years from now, Japan’s rate is scheduled to decline even further, to 34.5%. Other nations have similarly recognized the destructive economic effect of high corporate taxes, and conversely the beneficial effect of lower rates. In the Pacific region alone, South Korea reduced its rate to 22%, Thailand to 20%, Taiwan and Singapore to 17% and Hong Kong to 16.5%. Worldwide, the average corporate tax rate for industrialized countries is 25%…

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