US Corporate Taxes: How Do They Compare?
Paul Krugman points us to a CBO comparative study (PDF) of corporate taxes in developed countries. Short story: ours are pretty much in the same ballpark as other prosperous countries, by various measures. Ours tend to incentivize investments funded by debt, as opposed to equity.
Nothing to see here, folks. Move along.
One table I found of interest, which I've pulled and sorted for your viewing pleasure:
Taxes on Corporate Income in OECD
Countries in 2002 as a Percentage of
Gross Domestic Product
| Germany | 1 |
| Iceland | 1.1 |
| United States | 1.8 |
| Poland | 2 |
| Turkey | 2.2 |
| Austria | 2.3 |
| Hungary | 2.4 |
| Sweden | 2.4 |
| Weighted average | 2.5 |
| Slovak Republic | 2.7 |
| Switzerland | 2.7 |
| Denmark | 2.9 |
| France | 2.9 |
| United Kingdom | 2.9 |
| Japan | 3.1 |
| Republic of Korea | 3.1 |
| Italy | 3.2 |
| Spain | 3.2 |
| Canada | 3.4 |
| Unweighted average | 3.4 |
| Belgium | 3.5 |
| Netherlands | 3.5 |
| Portugal | 3.6 |
| Ireland | 3.7 |
| Greece | 3.8 |
| New Zealand | 4.2 |
| Finland | 4.3 |
| Czech Republic | 4.6 |
| Australia | 5.3 |
| Norway | 8.2 |
| Luxembourg | 8.6 |
| Mexico | Not avail. |
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