Of the 34 OECD (developed) countries, the U.S. ranks 32nd in “tax competitiveness”
Our remarkably anti-business country (well, our country’s governments) works 24/7 to help businesses prosper everywhere else — except perhaps France. Thank goodness for socialist France — we can count on these losers to keep us off the bottom of the pile.
And then America’s politicians claim to be shocked that businesses seek to leave the “free market” USA. And that foreign businesses are reluctant to come TO this country with anything but retail stores and imported goods.Of the 34 OECD countries (the developed countries), the U.S. ranks 32nd in “tax competitiveness,” according to the Tax Foundation. France is the worst. Plus we “beat” Portugal (big whoop!). Even economic basket case Italy is not quite as bad as the U.S.
Adding insult to injury, of the 50 states, California’s 2015 “business tax climate” ranks 3rd worst in the nation – behind New York and anchor-clanker New Jersey. In addition, CA has a lock on the worst rank in the Small Business Tax Index – a whopping 8.3% worse than 2nd worst state.
To see the Tax Foundation report summary or our nation’s tax competitiveness and the chart of the 34 countries, go to this link:
Here’s the more readable WALL ST JOURNAL article on this dreary ranking:
WALL ST JOURNAL
We’re Number 32!
A new global index highlights the harm from the U.S. tax code.
Updated Sept. 15, 2014 4:24 p.m. ET
Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.
On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.”
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NOTE: To read the full WSJ article, go to the link.