If you believe Joe Biden, Barack Obama has had it even tougher than FDR. At first glance, that seems like an unfair comparison since FDR was fighting the Axis while Barack Obama seems to spend most of his time making war on American businesses. However, in Obama’s defense, like FDR he is at least gradually pounding his enemies into submission.
As of Sunday, April first, the United States will have the highest corporate tax rate in the world. This new record is not something that would make most Americans proud.
We take the title as Japan cuts its tax rate by five percent. America’s business tax rate now tops out at 35 percent. Add state taxes and American job creators face a median rate of 39.2 percent.
The United States was in the middle of the pack when we last changed our rates in 1993. Since 2000, however, 30 of the world’s leading developed countries — looking to boost their economies — have cut their rates.
Germany dropped its top rate by 22 points.
Canada cut its by 13 points.
Ours stayed the same.
Today the worldwide average is 25 percent.
Even Russia, at 20 percent, and China, at 25 percent, have lower rates than America does. The difference in tax rates means American companies are trying to compete with one hand tied behind their backs.
…High taxes also leave less money for businesses to expand, innovate and create jobs. The prospect of saving millions of dollars in taxes has caused some U.S. businesses to move overseas, taking their jobs with them.
In contrast, researchers at the Heritage Foundation have calculated that if Washington were to cut our corporate rate to 25 percent, the benefits to Americans would be dramatic. After-tax income for a typical family would rise by almost $2,500. The U.S. economy would create 581,000 jobs a year over the next decade.
It’s like the old slogan you’ve probably seen pinned to a cubicle at work somewhere, “The beatings will continue until morale improves.”
A Lot can be done to help the country…question is why isn’t it being done???
Has the American People grown tired of this Administration [yet?]- Obama – Biden – Pelosi – Reid – the Fed – EPA and on and on and on…. Do as little as possible. Stir the Pot, Put a stick in progress, Political Football….Blame the other guy …. reap the rewards of the post – take advantage of the tax payer – the middle class – who cares not my money – Republicans share the shame too…
Where are the jobs? Where are the inventors? The speculators? The entrepreneurs? The small businesses… Where are the shovel ready jobs? The ‘strong’ economy? The ‘good’ housing market? A lower unemployment rate? [it was 4% in the Bush years] 8.8 “still” isn’t good enough…
Another large store near me is closing – K-Mart – several large food stores and several drug stores, not to mention many small businesses and eateries… some have been with us up to 40 years… gone…all have closed in the last 3 years…
Obumbles strings us along [sheeples are fun!] …with talking points…and more talking point….then some more political talking points… lies…and spin – spin and lies to keep stringing us along… miss-truths… class warfare… hate, envy, … Talking points and absolutely little to no action… what action he does take hurts this Country more….No one will even touch his budget… he plans it that way… to buy more time…to destroy America… Then people point out his lies and he gets a pass…hmm Power corrupts! – Wake up America!
Anyone who votes for this guy again, needs to get ‘their’ brain examined – not those [conservatives] who dispute global warming…we live in reality… we know when we are getting suckered..
Liberals HATE big business. They also LOVE to spend OTHER folks hard earned $$$$$!! This, is a FATAL Combination, when the LIBERALS have too much power.. like right now! Add in the FACT, the Liberals.. BUY votes via special deals, and social programs.. it’s near impossible, to root them all out.
I feel, we’re going to see NEW US History made, the likes we’ve never seen or read about before, and it’s not going to be pretty…
This said, a LARGE amount, of RINO’s, are compounding the Problem… If we can’t get some REAL CONSERVATIVE reform going… the jig is up. There ARE levels, one cannot recover from, once reached… we’re getting dangerously close….
Here’s a little different perspective on how the US ranks in corporate taxes:
http://www.cps-news.com/2012/04/01/here-we-go-again-still-corporate-taxes-are-too-high-so-says-corporate-americas-political-party/