13 September 2008
Corporate Tax Rates by Country
To see how much higher US corporate tax rates are compared to those in other countries, one should read this report. Here is a list of some corporate rates (in %) by country as of 2007:
Japan 39.5%
United States 39.3
Germany 38.9
Italy 37.3
Canada 36.1
France 34.4
Belgium 34.0
New Zealand 33.0
Spain 32.5
Luxembourg 30.4
Australia 30.0
United Kingdom 30.0
Denmark 28.0
Norway 28.0
Sweden 28.0
Mexico 28.0
Korea 27.4
Finland 26.0
Netherlands 25.5
Greece 25.0
Portugal 25.0
Austria 25.0
Czech Republic 24.0
Switzerland 21.3
Turkey 20.0
Poland 19.0
Slovak Republic 19.0
Iceland 18.0
Hungary 16.0
Ireland 12.5
Bravo for Ireland, which is enjoying a very high rate of economic growth! All of these countries reduced the corporate tax rate in either 2006 or 2007, except the United States, New Zealand, the United Kingdom, Norway, and Sweden.
It sure is a good thing American workers are so productive. If we were not, we would be hearing a giant sucking sound as all of our jobs went overseas due to our very uncompetitive corporate tax rate.
Japan 39.5%
United States 39.3
Germany 38.9
Italy 37.3
Canada 36.1
France 34.4
Belgium 34.0
New Zealand 33.0
Spain 32.5
Luxembourg 30.4
Australia 30.0
United Kingdom 30.0
Denmark 28.0
Norway 28.0
Sweden 28.0
Mexico 28.0
Korea 27.4
Finland 26.0
Netherlands 25.5
Greece 25.0
Portugal 25.0
Austria 25.0
Czech Republic 24.0
Switzerland 21.3
Turkey 20.0
Poland 19.0
Slovak Republic 19.0
Iceland 18.0
Hungary 16.0
Ireland 12.5
Bravo for Ireland, which is enjoying a very high rate of economic growth! All of these countries reduced the corporate tax rate in either 2006 or 2007, except the United States, New Zealand, the United Kingdom, Norway, and Sweden.
It sure is a good thing American workers are so productive. If we were not, we would be hearing a giant sucking sound as all of our jobs went overseas due to our very uncompetitive corporate tax rate.
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4 comments:
And some people still complain about American companies moving overseas...:(
I see New Zealand isn't doing that well either. The highest personal tax rate around here is 39%, so lots of people earning above that bracket put their money in family trusts or something.
Hi Miss Breeziness!
Yes, it is amazing that our Democrats dislike corporations so much that they are willing to see jobs go abroad in the global economy rather than be seen as helping corporations.
It is just so delicious to tax corporations and pretend that the tax is not landing on the heads of poorer and middle class people, whom they claim to care about.
That only shows how economically ignorant the people pushing such tax laws are. When costs go up for ANY reason, whether it's taxes, higher costs of raw materials or shoplifters, the number one response is to raise prices. Which of course hits the consumer directly on the head. And of course the poorest consumers are hurt the most.
It's amazing how many people know no economics at all!
I agree. Economic ignorance is amazing. Economics has some very difficult and complex issues, but there are many things that are very simple principles too. It always amazes me that people do not think enough to even understand the easy things. Yet, many of the same people figure out a fairly rational way to deal with an economic issue they are faced with personally. But, it does not take much abstract conceptualization to stump many people. They handle the concrete much better.
Yes, either the prices go up, or the company exports the production abroad, or we simply import the product from some corner of the world where the costs are lower. It really is not so complicated at this level. The corporate tax rates in the US and in NZ must come down.
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