US Corporate Tax Rate Double World Average

You’re shocked, I know! This comes via ye olde email, so I cannot access the PDF with ye olde Droid in a viewable manner

Cato has released a new study by scholars Duanjie Chen and Jack Mintz on corporate effective tax rates in 2012 for 90 countries.

The study provides estimates of marginal effective tax rates, which are an important factor in driving real investment flows.

The U.S. rate of 35.6% is about double the 18.2% average rate of the 90 countries studied. The U.S. rate is also the highest in the OECD.

Is it any wonder our economy is stagnating? Add to this the huge regulatory burdens from the Central Planning Office, er, federal government. BTW, I’m not solely blaming Obama. Bush 43 bares some responsibility for regulatory burdens. Witness

The annual Economic Freedom of the World report, including an index of country rankings, has just been released, and it should be a wake-up call. The United States was known as the bastion of economic freedom for more than two centuries, and it was because of its economic freedom that the nation became the pre-eminent economic power. However, in just a few short years, the U.S. has fallen from No. 3 in 2000 (behind the city-states of Hong Kong and Singapore) to No. 8 in 2005 and to No. 18 in 2010, the last year for which complete statistics are available. Worse yet, the U.S. decline continues, and in next year’s ranking, it is almost certain to be lower.

How utterly sad is it that the US I’d #18? Canada, Chile, and Finland do better.

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One Response to “US Corporate Tax Rate Double World Average”

  1. john says:

    Please point out ONE fortune 500 company that pays that rate. Certainly none that Mitt ran who pay that rate.

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