Global Competitiveness and the Corporation Income Tax. . . .

According to heritage.org:

The U.S. has the second highest corporate tax rate in the world, even higher than Sweden.

Taxes serve no necessity other than to finance government activities. Regrettably, policymakers often make the mistake of viewing taxes as only funds available for allocation among competing programs. In doing so, they ignore the dramatic effects of incentives created by taxes and the important influences of tax policy on economic activity. A more sophisticated approach recognizes these influences and seeks to raise only the necessary revenue in as economically benign a fashion as possible.

No area of taxation illustrates the need to recognize the incentive effects of taxes better than the taxation of U.S. corporations. The U.S. corporate income tax raises roughly $350 billion annually, about 14 percent of total federal revenue, but its impact extends far beyond its contribution to federal coffers. Any assessment of these effects highlights the fact that the United States urgently needs to reform its corporate tax.

---------------------------------------------

“Is it too much to ask to be as entrepreneurial as Sweden?” -Mark Steyn

---------------------------------------------

And you wonder why we can't compete in the global market any longer. . . . .Corporate Taxes. . . .Just wait till the results of Obamacare, the Financial Reform bill and Cap and Trade are added to corporations and small businesses. We are soooo screwed ! ! ! ! !

---------------------------------------------

To read the full article go to:
http://www.heritage.org/Research/Reports/2009/04/Global-Competitiveness-and-the-Corporation-Income-Tax