U.S. has world's highest tax rate

From the American Thinker - by Rick Moran -  The U.S. rate is well above the 25 percent average of other developed nations in the Organization for Economic Cooperation and Development (OECD). In fact, the U.S. rate is almost 15 percentage points higher than the OECD average. This gaping disparity means every other country that we compete with for new investment is better situated to land that new investment and the jobs that come with it, because the after-tax return from that investment promises to be higher in those lower-taxed nations. Our high rate also makes our businesses prime targets for takeovers by businesses headquartered in foreign countries, because their worldwide profits are no longer subject to the highest-in-the-world U.S. corporate tax rate. Until Congress cuts the rate, more and more iconic U.S. businesses such as Anheuser-Busch (which was bought by its Belgian competitor InBev in 2008) will be bought by their foreign competitors. To get back in line with international norms, Congress needs to reduce the rate so the combined federal and state rate matches or falls below the OECD average. Some will contend that with deficits north of $1 trillion annually, we simply can't afford such a large rate reduction. But the actions of the nations we compete with for new investment show that these nations understand that lowering the corporate tax rate is necessary because of the boost to economic growth it provides. Read more

U.S. has world's highest tax rate