Social issues related to business, especially big business, including corporate taxes and the political and economic relationship between business and the government.
Social issues related to business, especially big business, including corporate taxes and the political and economic relationship between business and the government.
There is an increasing hue and cry in Washington against "crony capitalism" and "industrial policy"-the notion that the federal government unfairly supports certain large corporations and industries. But what we really should be concerned about is America's "size- based" industrial policy, which actually favors small businesses to the detriment of the economy as a whole.
Key Findings The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates. The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP). By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
There is an increasing hue and cry in Washington against "crony capitalism" and "industrial policy"-the notion that the federal government unfairly supports certain large corporations and industries. But what we really should be concerned about is America's "size- based" industrial policy, which actually favors small businesses to the detriment of the economy as a whole.
Key Findings The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates. The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP). By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
