Procon.Org writes that few U.S. business ever pay the full corporate income tax rate due to exemptions, preferences, deductions and other benefits.
The right measure of corporate taxes is the effective corporate tax rate, and there the United States is roughly on the same level as the average of the six other large developed economies (Canada, France, Germany, Italy, Japan and the UK), at about 30%. America has no tax-based competitive disadvantage against such countries.
Procon.Org writes in fact that the larger the corporations are, the less effective corporate taxes that they actually tend to pay, noting:
The USA does of course have a problem when competing with slave-labor-like nations, and the solution there is to forbid the outsourcing of manufacture to such nations or the import of products made under slave-labor-like conditions.
Make mass foreign labor exploiters such as the Apple firm produce their wares in the USA and/or forbid the sale of their slave-labor-like produced products domestically. It is an easy legislative solution.
Reducing America to a slave-labor-like nation by increasing the already massive national inequality of income and wealth by pandering tax-legislatively to the benefit of the corporate exploiters is not the right solution by any means.
The right measure of corporate taxes is the effective corporate tax rate, and there the United States is roughly on the same level as the average of the six other large developed economies (Canada, France, Germany, Italy, Japan and the UK), at about 30%. America has no tax-based competitive disadvantage against such countries.
Procon.Org writes in fact that the larger the corporations are, the less effective corporate taxes that they actually tend to pay, noting:
"Of the 500 large cap companies (a market capitalization value of more than $10 billion) in the Standard & Poor (S&P) stock index, 115 paid a total corporate tax rate – federal and state combined – of less than 20% from 2006-2011, and 39 of those companies paid a rate of less than 10%."All this talk about reducing corporate taxation and thereby stimulating employment and the economy is just mostly nonsense.
The USA does of course have a problem when competing with slave-labor-like nations, and the solution there is to forbid the outsourcing of manufacture to such nations or the import of products made under slave-labor-like conditions.
Make mass foreign labor exploiters such as the Apple firm produce their wares in the USA and/or forbid the sale of their slave-labor-like produced products domestically. It is an easy legislative solution.
Reducing America to a slave-labor-like nation by increasing the already massive national inequality of income and wealth by pandering tax-legislatively to the benefit of the corporate exploiters is not the right solution by any means.
