We need to lower the corporate tax rate AND reform the tax structure

Conservatives love to complain that the United States has the highest tax rate in the world. At 35 percent, they are absolutely right. But they also claim this high rate holds back corporate America in global competition. That might be true – if companies actually paid anything close to that. They don’t. As Bruce Bartlett noted in a recent Economix blog entry, the United States actually has “the lowest corporate tax burden of any of the member nations of the Organization for Economic Cooperation and Development” at 1.8 percent of GDP.

So, as President Obama said in his State of the Union address, the corporate tax rate needs to be lowered, but at the same time the enormous corporate tax breaks that that let some very profitable corporations get away with paying nothing must be eliminated.

Anyone think conservatives will go along with that?

Me, either.

One Response to We need to lower the corporate tax rate AND reform the tax structure

  1. James Gilligan says:

    Why wouldn’t conservatives go along with it? I do.

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