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August 02, 2009 02:17 PM
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Depending on how you look at it, you could say that the USA is the second highest or the fourth highest.
The US technically has the second highest corporate tax rate of the 30 countries in the Organization of Economic Cooperation and Development (OECD) if you base it on the base rate alone. But the US corporate tax structure also involves a lot of deductions, and taking those into account and considering the taxes actually paid by US corporations compared to the taxes actually paid by corporations in other nations, then the USA comes out to having the fourth highest effective corporate tax rate.
Source(s):
http://blog.heritage.org/2008/06/16/the-us-does-have-worlds-second-highest-...
http://www.cnbc.com/id/30727913
http://www.cato.org/pubs/tbb/tbb-0204.html
http://www.ourfuture.org/blog-entry/2008083312/giant-hole-2nd-highest-corpo...
http://www.cato.org/pubs/tbb/tbb-0204.html
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Japan 39.5 percent
U.S. 39.3 percent
Source(s):
http://www.taxfoundation.org/publications/show/22917.html
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Does the US have the 2nd highest corporate taxes in the world?
List the top five countries for corporate taxes
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| August 02, 2009 04:26 PM |
The US technically has the second highest corporate tax rate of the 30 countries in the Organization of Economic Cooperation and Development (OECD) if you base it on the base rate alone. But the US corporate tax structure also involves a lot of deductions, and taking those into account and considering the taxes actually paid by US corporations compared to the taxes actually paid by corporations in other nations, then the USA comes out to having the fourth highest effective corporate tax rate.
Source(s):
http://blog.heritage.org/2008/06/16/the-us-does-have-worlds-second-highest-...
http://www.cnbc.com/id/30727913
http://www.cato.org/pubs/tbb/tbb-0204.html
http://www.ourfuture.org/blog-entry/2008083312/giant-hole-2nd-highest-corpo...
http://www.cato.org/pubs/tbb/tbb-0204.html
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August 02, 2009 04:21 PM
The United States is second behind Japan in corporate taxes. Japan 39.5 percent
U.S. 39.3 percent
Source(s):
http://www.taxfoundation.org/publications/show/22917.html
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August 02, 2009 05:32 PM
No...US has the highest corporate taxes in the world. Last year year Charles Rangel was trying to cut from 35% TO 30.5.Us is way out of step with our international competitors.Many states in US impose rates higher than the national averageof6.6 percent.For example Iowa rates are 12%. Japan has the 2nd highest corporate taxes.
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August 03, 2009 05:08 PM
http://en.wikipedia.org/wiki/Charles_B._Rangel#2008.E2.80.932009_ethics_investigations_and_tax_controversies
In July 10, 2008, Rangel rented four apartments in Lenox Terrace Complex in Harlem. Rangel paid $3,894 monthly for all four apartments in 2007, but similar apartments cost $8,125 monthly.
Congressional ethics indicated the difference in rent between what Rangel was paying and market rate could be "construed as a gift", it would exceed the $100 limit established by the House of Representatives. The House tabled a censure that Rangel "dishonored himself", 254 to 138.
Additionally, Rangel was charged of failing to report $75,000 in income he had received for renting the condo (Punta Cana in the Dominican Republic) on his tax returns or in congressional disclosure forms.
Quote
In September, 2008 Charles Rangel has spent an amount, totaling $10,800, to pay the back taxes he owes from rental income on his Dominican villa
Quote
In late November 2008, Republican members of Congress asked the House Ethics Committee to look into Rangel's defense of a tax shelter loophole that allows tens of millions of dollars in tax breaks for a company which has donated $1 million to the City College of New York school named after Rangel; under the loophole approved by Rangel's Ways and Means Committee, Nabors Industries has been allowed to open a small outlet in Bermuda and call itself a foreign corporation.
Rangel tactics may be "Perfectly Legal". Read the book "Perfectly Legal" - the rich are getting richer and the poor are not entitled.
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In July 10, 2008, Rangel rented four apartments in Lenox Terrace Complex in Harlem. Rangel paid $3,894 monthly for all four apartments in 2007, but similar apartments cost $8,125 monthly.
Congressional ethics indicated the difference in rent between what Rangel was paying and market rate could be "construed as a gift", it would exceed the $100 limit established by the House of Representatives. The House tabled a censure that Rangel "dishonored himself", 254 to 138.
Additionally, Rangel was charged of failing to report $75,000 in income he had received for renting the condo (Punta Cana in the Dominican Republic) on his tax returns or in congressional disclosure forms.
Quote
In September, 2008 Charles Rangel has spent an amount, totaling $10,800, to pay the back taxes he owes from rental income on his Dominican villa
Quote
In late November 2008, Republican members of Congress asked the House Ethics Committee to look into Rangel's defense of a tax shelter loophole that allows tens of millions of dollars in tax breaks for a company which has donated $1 million to the City College of New York school named after Rangel; under the loophole approved by Rangel's Ways and Means Committee, Nabors Industries has been allowed to open a small outlet in Bermuda and call itself a foreign corporation.
Rangel tactics may be "Perfectly Legal". Read the book "Perfectly Legal" - the rich are getting richer and the poor are not entitled.
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The tax deductions is far to complicated to consider.