Several posters have indicated that the corporate taxes in the US are too high, and that is the reason we are not competative.
Be reminded that 2/3 [66%] of America's corporation pay *NO* income tax. While it is true that the nominal US corporate tax rate is higher than in many other countries, the actual rate is zero to less than zero [no federal income taxes paid and deductions from other taxes such as state income and local property taxes].
As individuals and small business owners we get to make up this shortfall.
========= Most companies in US avoid federal income taxes
By JENNIFER C. KERR, Associated Press Writer Tue Aug 12, 6:31 AM ET
WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.
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Unka' George [George McDuffee]
------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).