Tax Rates On US Corporations in 2011 just 1.3%

I am tired of hearing that US corporations are saddled with some of the highest tax rates in the world and often quoted as 35%.

While 35% may be the starting point, US companies are allowed deductions like no other country on Earth to the point that the average tax rate on US companies is just 1.3% according to the OMB (office of mgmt and budget).

Maybe some of the politicians should use this figure going forward when it comes time to balance the budget.

You want to talk fair share, how about corporations pay their fair share and maybe we could actually balance the budget, build our infrastructure, offer the kinds of social services that are just and fair - while we enjoy lower personal income taxes?!

1 comment:

  1. Kelvin2/01/2012

    I heard that Exxon paid 5 Billion in taxes last year, none of that in the US. Most to Canada, Norway and a few others.