Eduardo Porto, New York Times, wrote a nice piece on taxes and reform in the US here… I found this interesting:
“What happened was globalization. As multinational corporations have hopscotched around the globe to find the most profitable base from which to run their affairs, they have set off furious competition among governments hoping to lure investment by slashing tax rates to the bone.
Smaller countries like Ireland or Hungary have been the most aggressive in this race. But big industrial powers have followed, too. Among the 35 members of the Organization for Economic Cooperation and Development, the policy think tank of the world’s industrialized countries, almost every one has reduced its corporate tax rate over the last 17 years.
There are two exceptions: Chile and, alone among the world’s wealthy nations, the United States.”
But, corporate taxes as a percent of GDP are lower in the US than the OECD average:
Do read the whole thing…