Continuing the thought from the last post, the Reuters site has an interesting chart comparing US Corporate tax rates to those of the rest of the developed world:
As one can see, the US Corporate tax rate is already higher then most developed countries. But of course many corporations don't pay anywhere near these tax rates, since the current tax code gives many of them all sorts of exemptions and credits -- which is another argument for reforming the tax code.
Nonetheless, major corporations these days are global in reach. If we tax them significantly more than other nations, they will just export their factories -- and their jobs -- to nations with a lower tax burden. In the long run, if we want more jobs in this nation (certainly a key issue these days), we need to keep an attractive tax structure for corporations.
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