At which point we should be awarded Esquire Magazine’s Dubious Achievement Award. Step up to the podium and accept your Doobie statuette, America. Unless something changes between now and this same time next month, America will have the highest corporate income tax rate in the developed world. It’s called the federal/state integrated tax rate and we’ll soon be the front runner. It’s an honor we could do without.

This time next month, Japan will lower its corporate tax rate to 35% from its present level of 39.5%. We were already in the running for the top spot at 39.2%, but with Japan’s change we’ll have the award sewed up. At that point, our major trading partners will have the following rates in descending order: Japan at 35%, France at 34.4%, Germany at 30.2%, Mexico at 30%, and Canada at 27.6%. The overall rate among all the developed nations in the Organization for Economic Cooperation and Development (OECD) is an amazing low of 25%.

The Great Economist Barack Obama has proposed to lower the corporate tax rate to 32%, which would put us between France and Germany. Standing alone, that would still be putting a bandaid on a cancerous growth. But it doesn’t stand alone. In exchange for a minor corporate tax rate decrease, Obama also proposed to raise the national debt, increase income and use taxes, borrow more money from China, and create regulating agencies to regulate the regulating agencies. And there’s that extra bonus of setting aside more bailout funds and the double-taxation on capital gains.

Meanwhile, Obama expects to fiercely defend his costly socialist Obamacare scheme which also forces corporations to pay way too much for way too few real benefits (on top of the burden on employees and the interference with religious freedom). At long last, Obama has recognized American exceptionalism. We are exceptionally stupid if we reelect this ivory tower socialist who thinks the Laffer Curve is a new routine over at the local Comedy Club.

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At which point we should be awarded Esquire Magazine’s Dubious Achievement Award. Step up to the podium and accept your Doobie statuette, America. Unless something changes between now and this same time next month, America will have the highest corporate income tax rate in the developed world. It’s called the federal/state integrated tax rate and we’ll soon be the front runner. It’s an honor we could do without.

This time next month, Japan will lower its corporate tax rate to 35% from its present level of 39.5%. We were already in the running for the top spot at 39.2%, but with Japan’s change we’ll have the award sewed up. At that point, our major trading partners will have the following rates in descending order: Japan at 35%, France at 34.4%, Germany at 30.2%, Mexico at 30%, and Canada at 27.6%. The overall rate among all the developed nations in the Organization for Economic Cooperation and Development (OECD) is an amazing low of 25%.

The Great Economist Barack Obama has proposed to lower the corporate tax rate to 32%, which would put us between France and Germany. Standing alone, that would still be putting a bandaid on a cancerous growth. But it doesn’t stand alone. In exchange for a minor corporate tax rate decrease, Obama also proposed to raise the national debt, increase income and use taxes, borrow more money from China, and create regulating agencies to regulate the regulating agencies. And there’s that extra bonus of setting aside more bailout funds and the double-taxation on capital gains.

Meanwhile, Obama expects to fiercely defend his costly socialist Obamacare scheme which also forces corporations to pay way too much for way too few real benefits (on top of the burden on employees and the interference with religious freedom). At long last, Obama has recognized American exceptionalism. We are exceptionally stupid if we reelect this ivory tower socialist who thinks the Laffer Curve is a new routine over at the local Comedy Club.

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We’ll Soon Be Number One Again

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