Saturday, February 21, 2009
Corporate Taxes - U.S. vs. the World
Maybe there was a corporate tax cut in the "stimulus" bill.
Has anybody read it yet?...
Has anybody read it yet?...
On the Hill's Congress Blog, U.S. Rep. Michelle Bachmann posted this:
"According to a new study release by the accounting firm KPMG:
'U.S. corporate income tax rate is higher than all other global regions—14 percentage points higher than the global average and nearly 17 percentage points higher than the average among European Union nations. Of the 106 countries surveyed, only the United Arab Emirates, Kuwait, and Japan impose a higher corporate tax rate than the combined rate of 40 percent. The United Arab Emirates and Kuwait each have a staggering tax rate of 55 percent; Japan’s rate is 40.69 percent.'
The Heritage foundation reports that:
'Even Europe’s old welfare states have joined the aggressive tax cut parade: Sweden has cut its corporate tax rate to 28 percent from 60 percent; Norway’s rate has dropped over 50 percent to 28 percent; and Denmark’s corporate tax rate is now 25 percent.'"
