ICYMI: U.S. Corporate Tax Rate Now No. 1 In The World
Japan has just helped the Obama administration reach one of its objectives. The United States will on April 1st (and it's no April Fools Joke) have the highest corporate tax rate in the World. But, since the U.S. did not actually do anything to achieve this negative statistic -- it is really a "nonachievement" for the Obama administration. Thus, it is doubtful that this changed statistic will satisfy what Dinesh D'Souza described as Barack Obama's "anticolonialist rage against Western dominance, and most especially against the wealth and power of the very nation Barack Obama now leads." CNN Money has the graphic and figures.
Chris Isidore, CNN Money: NEW YORK (CNNMoney) -- On Sunday, the United States gets a distinction no nation wants -- the world's highest corporate tax rate.
Japan, which currently has the highest rate in the world -- a 39.8% rate on business income between national and local taxes -- cuts its rate to 36.8% as of April 1. The U.S. rate stands at 39.2% when both federal and state rates are included.
"The change in and of itself is not that important, but there's some symbolism involved in being the highest in the world," said Eric Toder, co-director of the Tax Policy Center, a non-partisan think tank. "There's certainly been a long-term trend of our rate getting higher relative to everyone else."
But despite the headline number, the statutory rate only tells part of the story.
Loopholes and other special treatment for different kinds of businesses mean that businesses pay an effective rate of only 29.2% of their income, which puts the United States below the average of 31.9% among other major economies, according to analysis by the Treasury Department. . . . Read More
Note: Is there any doubt that the Obama administration will continue to advance an agenda to adjust the final referenced CNN statistic so that eventually those "bad job creating" U.S. Corporations will in fact be taxed more than Corporations in the rest of the world?
Tags: World, USA, Us Corporations, highest corporate tax, CNN Money, Obama administration, Barack Obama, Dinesh D'Souza To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Chris Isidore, CNN Money: NEW YORK (CNNMoney) -- On Sunday, the United States gets a distinction no nation wants -- the world's highest corporate tax rate.
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| Japan's cut in corporate tax rate, set to take effect April 1, will leave the U.S. corporate tax rate the highest in the world. |
"The change in and of itself is not that important, but there's some symbolism involved in being the highest in the world," said Eric Toder, co-director of the Tax Policy Center, a non-partisan think tank. "There's certainly been a long-term trend of our rate getting higher relative to everyone else."
But despite the headline number, the statutory rate only tells part of the story.
Loopholes and other special treatment for different kinds of businesses mean that businesses pay an effective rate of only 29.2% of their income, which puts the United States below the average of 31.9% among other major economies, according to analysis by the Treasury Department. . . . Read More
Note: Is there any doubt that the Obama administration will continue to advance an agenda to adjust the final referenced CNN statistic so that eventually those "bad job creating" U.S. Corporations will in fact be taxed more than Corporations in the rest of the world?
Tags: World, USA, Us Corporations, highest corporate tax, CNN Money, Obama administration, Barack Obama, Dinesh D'Souza To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 10:18 AM - Post Link
2 Comments:
Now all our business can move out
YAY (not even)
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