“Our federal tax system is, in short,
utterly impossible, utterly unjust and completely counterproductive,
[it] reeks with injustice and is fundamentally un-American... it has
earned a rebellion and it's time we rebelled.”—President Ronald Reagan, May 1983, Williamsburg, Virginia.
It is easy to see the results of those tactics: less productivity, limited competition, fewer jobs and a sinking economy.
These negative results not only affect individual citizens, but America’s corporations as well.
America’s corporate tax rate sits as the second highest in the world at 35 percent; second only to Japan, which is currently in the process of lowering its tax rate.
Though individual taxpayers might not be bothered that corporations in the U.S. face such a high tax rate — in fact, many might be in support of it as some corporations that conduct business internationally pay different rates. But the truth is, the corporate tax rate should be of concern to all American citizens.
After all, who do you think corporations pass their taxes on to?
Get full story here.
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