The United States corporate tax rate is 35% and is one of the highest of any nation in the world; therefore, one can, to some extent, sympathize with American corporations for wanting the rate lowered and the desire of some businesses to relocate their headquarters operation to lower tax rate countries. But wait a minute, realistically is the rate that high, that unfair? When all measures are considered, is it stifling the American economy? The answer is an emphatic No! Let me explain.
Teams of tax lawyers, accountants, corporate lobbyist, influence peddlers, the Congress and other own special interests make a mockery of the 35% rate. For American corporations the law apparently does not apply as intended and is a smoke screen, a Swiss cheese of loopholes for profit grabbing at the expense of the American public. The reader may be astonished to learn the exact amounts the…
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