Corporate Income Tax In America

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In an ever-increasing globalized world, it is imperative that America remains competitive to attract businesses to expand to America, and to reduce incidents of American businesses leaving America to move to another country that offers a more favorable business environment. Data shows that corporate income taxes are the most harmful type of taxes for economic growth. Currently, the United States has the fourth highest statutory corporate income tax in the world, at 35%. The last major reform to America’s corporate income tax was decades ago in 1986, when the rate was slashed from fifty percent to thirty-five percent. When the reform happened, most of business income earned in the U.S. was earned by C-Corporations, thus the corporate income

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