Why is Washington Calling for Corporate Tax Reform?
Posted by William Byrnes on March 5, 2011
President Obama recently targeted corporate tax rates in his State of the Union address. “It makes no sense, and it has to change”. “Get rid of the loopholes. Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years — without adding to our deficit. It can be done.”
Here’s why some politicians in Washington are calling for reform:
Although America has one of the highest maximum corporate tax rates throughout industrialized nations, many large corporations pay only a fraction of the maximum rate. In a study by a New York University Professor, the data shows that a great number of public companies are paying around half, or even less, than the maximum corporate rate.
Read the analysis at AdvisorFYI