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Jul 30

U.S. Corporate Taxes are The Highest on Earth

poverty

Former director of the Congressional Budget Office Douglas Holtz-Eakin recently spoke before an audience in Washington, D.C.. The event was covered by the Washington Examiner. See here.

The U.S. has the world’s highest corporate tax rate: 39.1 percent at the top margin. This is almost 14 percentage points higher than a global average.

America’s high corporate tax rates are driving hundreds of corporations to headquarter overseas or partner with foreign corporations to give the appearance of foreign residence. Many other corporations, of course, are never launched at all due to high U.S. corporate tax rates.