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Sweden, Norway, the UK, etc.. have higher regulations and taxation, yet they scored higher than the US.
Try again
I guess someone didnt read the article m
Corporate taxes continue to put a damper on American businesses. Following a tax cut in Japan this year, the U.S. now has the highest statutory corporate tax rate in the world. The effective rate is much lower thanks to numerous breaks, but owning the highest published rate makes for poor perceptions.
It is not just the rate that hinders the U.S., but also the complexity of the tax code. The typical small or medium-size business requires 175 hours a year to comply with U.S. tax laws, according to the World Bank. Overall the U.S. ranks 55th out of the 141 countries we examined in terms of its tax regime. The world’s biggest economy at $15.1 trillion, it also scores poorly when it comes to trade freedom and monetary freedom.
Corporate taxes continue to put a damper on American businesses. Following a tax cut in Japan this year, the U.S. now has the highest statutory corporate tax rate in the world. The effective rate is much lower thanks to numerous breaks, but owning the highest published rate makes for poor perceptions.
It is not just the rate that hinders the U.S., but also the complexity of the tax code. The typical small or medium-size business requires 175 hours a year to comply with U.S. tax laws, according to the World Bank. Overall the U.S. ranks 55th out of the 141 countries we examined in terms of its tax regime. The world’s biggest economy at $15.1 trillion, it also scores poorly when it comes to trade freedom and monetary freedom.
Socialist Sweden and Norway have higher taxes and more regulations than the US does, same goes for Britain.
Regulations and taxation are why the US is falling down the list.
Glad I was able to help.
The marginal tax rate in the U.S. may seem high, but our effective tax rate is low. Many corporations get get paid by our government to do business here.
1 out of 3 corporations in the US paid zero taxes, Sweden has a lower tax rate than zero???
Any person who has post secondary education knows that Sweden, Canada, Norway, and most of Western Europe have more regulations than the US.
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