WHY DOES AMERICA HAVE THE WORLD’S WORST BUSINESS TAX?
If you were establishing a new business whose products would be produced and sold worldwide, would you set it up in the United States, which now has the world's highest corporate-tax rate?
There is a growing realization that the U.S. is at an increasingly competitive disadvantage when it comes to taxing corporations. Even the Obama administration said it is open to a corporate-tax rate cut, and it is expected that President Obama will propose some rate reduction in his forthcoming State of the Union address.
If he does, be wary, for he he is likely to qualify his proposal by saying that any corporate-tax reduction must be "revenue neutral." That's code for closing "loopholes" that are pro-business.
