On April 1, Japan will cut its corporate tax rate to 36.8 percent from 39.5 percent.
You know what that means, right?
It means the United States will officially have the highest corporate tax rate in the world, with average combined federal and state profit levies of 39.2 percent.
“Yes, that’s higher than Sweden,” The Wall Street Journal reports. “Higher than Russia. And China, Mexico, Denmark and even France. Doesn’t it make you want to break out in a chant: U-S-A, U-S-A?”
As Japanese politicians found themselves staring down an increasingly burdensome deficit and an aging population, they came up with an idea: Cut the corporate profits tax to boost economic activity and generate higher revenues.
2 comments:
Thus, to lowest % of domestically made goods and an astronomical unemployment rate. Rather than having the fruits of their labor confiscated & wasted, employers are going elsewhere.
Well said 10:05.If we let free enterprise run it's course we will ease out of this depression and our nations healing can begin.We would be better off with a government half the size of what it is now.
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