Quote:
Originally Posted by JohnR
I fully agree that corporations have too many loopholes so while the US corporate taxes are high - many companies go out of their way to bury it - there does need to be a balance
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While we have, without question, the highest statutory corporate tax rate of all countries, and while it is true that some corporations pay a far less effective rate than the statutory rate. The average effective (actual) corporate tax rate in the U.S. is similar to the combined average rate of the other OECD countries.
Of course, several countries have lower, even much lower statutory rates than the average effective rate in the U.S., making them tax havens as well as an attraction to lure corporations to move there.
But rather than the reality of what companies pay in the U.S. on average, what is focused on is those giant corporations who pay less or zero rates. That is a result, in large part, to the cronyism paid with donations to both parties. It also means that many companies pay more, far more, even the full statutory rate, to create the average effective rate.