And some wonder why they move their operations overseas or across the border...

 

It may come as a surprise that US companies pay the highest taxes in the world. Yes, you read that right. American businesses, large and small and across all industries pay from 35% to 41.6% of their income in combined state and federal taxes. The 41.6% maximum rate is scheduled to rise to 46.2% in 2010 when President Obama's promised tax increases are implemented. Compare that to socialist France where companies pay only 34.4% in taxes, to China where the rate is 25%, or Russia which levies a mere 24%. Corporations in Ireland, Europe's fastest growing economy for the

last 18 years, pay just 12.5% in taxes.[/Quote]

 

Corporate Tax Rates, US vs. Other Free-Market Democracies

 

 

Last year the Tax Foundation, a nonpartisan educational organization with a solid reputation for independence and credibility, released a report that compared the tax rates of US corporations (across all 50 states) with 29 other countries that accept the principles of representative democracy and free-market economy (referred to as OCED countries, 30 total). Their study reveals the surprising finding that US companies are already at a significant competitive disadvantage in the world economy.

 

 

When compared to other OECD countries:

 

 

 

• 24 US states have a corporate tax rate higher than top-ranked Japan.
  
• 32 states have a corporate tax rate higher than third-ranked Germany.
  
• 46 states have a corporate tax rate higher than fourth-ranked Canada.
  
• All 50 states have a corporate tax rate higher than fifth-ranked France.
  

[/Quote]

 

The United States is the world's largest economy. When compared to the next 14 countries that represent the world's largest economies by GDP as of 2008, from the second largest (Japan) to the fifteenth largest (South Korea), the emerging patterns are striking:

 

 

• 24 US states have higher corporate tax rates than all 14 other countries.
  
• 32 US states have higher corporate tax rates than 13 of the 14 countries.
  
• 46 US states have higher corporate tax rates than 12 of the 14 countries.
  
• All 50 states have higher corporate tax rates than 11 of the 14 countries.
  

[/Quote]

 

Link

You can't blame this one on Obama.

You can't blame this one on Obama.

I can blame the increase on him.

Everything you posted above points to the states' corporate tax rates. Regardless of the federal, it won't resolve the issue at the state level.

Everything you posted above points to the states' corporate tax rates. Regardless of the federal, it won't resolve the issue at the state level.

True to a point, btw, I haven't really looked at how many of those states were governed by the Dem's vs Rep's. yet.

However, raising taxes more, with Big O is going to do, sure isn't going to help the problem.

You hear repeatedly in the media that companies are leaving for lower employment costs. IMO taxes are the biggest reason companies leave this country.

 

Last I saw, the average US manufacturers had a labor cost of about 9%. By going to Mexico they cut that to 3%. Which is a lot of money but difficult to justify the cost of moving a facility. However when you throw in the fact that their taxes go from 40% to 20% it's easy to see why they move.

Edited March 8, 200917 yr by coldweatherfan

I don't give a rat who is responsible for this sort of thing however I do feel like both parties deserve to share the blame on it. I also feel that something needs to be done regarding it as well. More companies will continue to move overseas, and while I am a proponent of a global free market with no barriers to trade or business between nations, I want to see as many jobs stay here as possible.

I don't give a rat who is responsible for this sort of thing however I do feel like both parties deserve to share the blame on it. I also feel that something needs to be done regarding it as well. More companies will continue to move overseas, and while I am a proponent of a global free market with no barriers to trade or business between nations, I want to see as many jobs stay here as possible.

 

:thumb: You are right, this did not happen overnight, and something needs to be done to save jobs here in the US.

:thumb: You are right, this did not happen overnight, and something needs to be done to save jobs here in the US.

Not taxing companies so much would be a good start.

Not taxing companies so much would be a good start.

 

My goodness we agree on something corporate tax rates should be as low as possible.

My goodness we agree on something corporate tax rates should be as low as possible.

:lol: :thumb:

My goodness we agree on something corporate tax rates should be as low as possible.

 

Corporate income taxes should be eliminated entirely.

News Flash! Cooperation's, businesses and companies don't pay tax increases! They pass those costs on to us, the consumers. When Obama increases these taxes he doing nothing other than passing it on to us. We'll pay it. It blows my mind that our government doesn't understand this.

News Flash! Cooperation's, businesses and companies don't pay tax increases! They pass those costs on to us, the consumers. When Obama increases these taxes he doing nothing other than passing it on to us. We'll pay it. It blows my mind that our government doesn't understand this.

 

News Flash - State and Local governments often if not always provide tax incentives so that the actual rate is not what it says.

 

Companies have a responsibility to their workers and to the country that has allowed them to grow to become large enough to be considered multi-national.

 

FWIW, when is enough profit enough profit? If you are making goods in America and your CEOs are clearing millions of dollars and the stock owners are seeing a reasonable return on their investment, why the rush to the bottom line?

For all the bailout money available to them, they should. And they don't seem to have a shortage of cash with the bonuses they give to their execs.