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August 25, 2008
killing american competitiveness
There will be a great deal of discussion about corporate tax rates during this election. As most economists know, corporate taxes are just passed onto to consumers, but Democrats (and some Republicans) do a good job of convincing Americans that evil corporations need to pay their "fair share." Unfortunately, paying their "fair share" keeps many US companies at an economic disadvantage.
Here is the conclusion of the Tax Foundation:
The release of these two OECD studies could not have come at a better time for the current political debate over how to move the U.S. economy forward. A U.S. corporate tax rate 50 percent higher than the OECD average should be a wake-up call to Washington, especially when combined with the empirical evidence that corporate taxes are the most harmful tax on economic growth. The question remains for the presidential candidates, What is your plan to restore American competitiveness?
Posted by nemov at August 25, 2008 12:48 PM
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