American corporations have the highest tax rates, but pay less
David Kockieniewski reports that the highest corporate tax rate in the world is misleading. Thanks to special tax breaks and loopholes, American businesses pay much less than competitors.
But by taking advantage of myriad breaks and loopholes that other countries generally do not offer, United States corporations pay only slightly more on average than their counterparts in other industrial countries. And some American corporations use aggressive strategies to pay less — often far less — than their competitors abroad and at home. A Government Accountability Office study released in 2008 found that 55 percent of United States companies paid no federal income taxes during at least one year in a seven-year period it studied.
(via The Freeman)