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> which is the second highest effective rate in the OECD Yeah that statistic was shocking to me; it was significantly higher than most other nations. But the
by wvenable 9y ago
> which is the second highest effective rate in the OECD
Yeah that statistic was shocking to me; it was significantly higher than most other nations. But the next the bullet point is that US corporations actually pay significantly less than other countries because of deductions and loopholes.
If US corporations actually paid the new lower corporate tax rate they'd spend more on taxes than they do now.
- rayiner 9y agoOP said effective rate, not statutory rate. Effective rate is after deductions, and the U.S. is near the top on that chart too: https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world https://www.npr.org/2017/08/07/541797699/fact-check-does-the.... The second chart has the U.S. at #3 out of OECD countries (Argentina is not an OECD country), behind Japan and about tied with the U.K. The effective rate in the U.S. is 18.6%. Germany is at 15.5%, France is at 11.2%, and Canada is at 8.5%.