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U.S. | Labor & Workers

The Corporate Tax Rate Debate, 30pp
by Center for Effective Government
Friday Dec 6th, 2013 5:34 PM
Lower taxes on corporate profits not linked to job creation.
to read the 30pp December 2013 report from the Center for Effective Government, click on

Lower taxes on corporate profits not linked to job creation.

to read the 30pp December 2013 report from the Center for Effective Government, click on

http://www.foreffectivegov.org/files/budget/corp-tax-rate-debate.pdf

This paper examines the logic and evidence that lowering the tax rate on corporate profits willhelp create new jobs in the U.S. The Taxes Corporations Actually Pay

A 2013 study by the U.S. Government Accountability Office found that large corporations paid on average just 12.6 percent of their 2010 profits in federal income taxes.1Even when foreign, state, and local taxes were added in, the companies paid only 16.9%of their worldwide profits in taxes in 2010. By contrast, small businesses pay an average tax rate on their profits of 19 percent , according to the Small Business Administration. U.S corporate profits as a share of the economy are at a 50-year high, yet federal corporate tax collections as a share of the economy are near a 50-year low.
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