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Trivia Tidbit Of The Day: Part 371 -- We Still Need Major Tax Reform.

Tax Cuts In 2003 Were Nice, But We Need To Advance The Ball-

The world is getting smaller.

Ever since the fall of the Soviet Union, countries around the world have moved to gain a competitive advantage for their business communities, by lowering their corporate tax rates. It's one of the better ways to fight "outsourcing" (offshoring) of jobs.

And it makes sense. Everything else being equal, lower taxes will attract and retain corporations and other large engines of commerce and industry.

Just look at the falling rates (.pdf):

Sure, we in the U.S. have seen similar trends in other tax categories, but when it comes to corporate taxes, our trend is similar to that of France (.pdf):

That is to say, our trend is flat, which is not in line with the global trend. Our corporate tax rate is the same as it was in the early 1990s.

We need to be the low tax beacon for the world. In every tax category. That's the path to attracting and retaining more and better jobs, growing our economy, and remaining the greatest country on the face of the planet.

Source: KPMG's Corporate Tax Rate Survey (.pdf).

Previous Trivia Tidbit: A Huge Difference On Spending.

Posted by Will Franklin · 6 November 2006 03:02 PM

Comments

Posted by: zsa zsa at November 6, 2006 03:31 PM

Posted by: John in IL at November 6, 2006 09:38 PM