We’re #3!

Well, friends, I think we can finally give our government some credit. After decades of effort, we are finally one of the top nations in the world in something. In fact, we’re the third best. Only France and Portugal are better. With a huge bipartisan effort and some fantastic leadership from President Obama, the United States is now third in tax shittiness:

If American businesses have begun looking for opportunities to relocate their corporate offices overseas, it’s not necessarily from a lack of patriotism. The Tax Foundation calculated the tax competitiveness of the 34 countries within the Organisation for Economic Co-operation and Development (OECD), nations at least nominally committed to free-market economics, as part of their annual ranking system. The US comes in 32nd out of 34, just above France and Portugal, but below such economic powerhouses as Mexico — and Greece

The United States places 32nd out of the 34 OECD countries on the ITCI. There are three main drivers behind the U.S.’s low score. First, it has the highest corporate income tax rate in the OECD at 39.1 percent. Second, it is one of the only countries in the OECD that does not have a territorial tax system, which would exempt foreign profits earned by domestic corporations from domestic taxation. Finally, the United States loses points for having a relatively high, progressive individual income tax (combined top rate of 46.3 percent) that taxes both dividends and capital gains, albeit at a reduced rate.

This isn’t just a matter of taxes being high; many of the countries ranked below us have much higher overall tax rates and much larger governments. To get our #3 ranking, we had to put together a corporate tax system with both a high rate and ridiculous complications. We had to resist the global trend to not double-tax foreign earnings. We had to make our income tax ridiculously complicated and unfair. We had to create a tax system that is openly hostile to the idea of people working, investing and exporting goods.

So, congratulations to the Congress and President Obama! Between this and our rapid decline in the Economic Freedom Index, you’re making this country worse than the European socialist states!

Comments are closed.

  1. Seattle Outcast

    Maybe we should encourage people to incorporate in the Principality of Sealand – I’m sure some sort of arrangement can be worked out…..

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  2. AlexInCT

    If the fortune they take in in taxes actually went towards things of real benefit to the nation and those that produce, this might not be such a big deal, but when the bulk of the money goes to line the pockets of the connected, the political class, and the vote buying schemes and scams, you know we are being ripped off.

    Our government used to build things like the Hoover Dam and the Interstate system. We put a man on the moon almost 50 years ago and fought a war for the life & death of freedom, and won it, in a short 3 years or so. These days we get billion dollar websites that don’t work worth shit after the same 3 years to put it up. Let’s not forget veterans’ healthcare which is run by overpaid and pampered bureaucrats with delusions of grandeur that award themselves bonuses for using death panels to get rid of those they don’t like. or the IRS and DOJ targeting political opponents of the gangsters in charge.

    Ask your average libtard, the kind that doesn’t pay any taxes or the ones that avoid them by buying favors from their donkey buddies in government while raking in the cash, and they will tell you we should squeeze the working middle class even harder. Cause nothing says “Social Justice” like a society where the elite have it all and the rest are miserable serfs with crappy free healthcare, and the majority of the population is on assistance from government because there are no employment opportunities.

    BTW, corporations don’t fucking pay taxes you idiots: the people that partake of their services or products do that.

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  3. AlexInCT

    Personally, if I were setting up a corporation, I wouldn’t even think of setting it up in the US. Hong Kong, OTOH, would be very nice.

    Agree on not a chance I do so in the US, but disagree about Hong Kong. The days of China being the place you could turn around your money quick are done. Even Hong Kong is not immune to the crap the desperate oligarchy in China is pulling as it realizes the grip on power they have had for decades is tenuous because in the technological age there is no hiding their abuse of power and the lies about collectivism. The Chinese are now finding themselves competing with other 3rd world countries for that position they had 2 decades ago. That house of cards is just as bad as the one we have in the US now.

    If you want a good business climate there are some South and Central American countries – those without collectivist governments – that are experiencing massive growth and are run by the rule of law, unlike the banana republic Obama has straddled us with.

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  4. Hal_10000 *

    Personally, if I were setting up a corporation, I wouldn’t even think of setting it up in the US. Hong Kong, OTOH, would be very nice

    You don’t need to go that far. Set it up in Canada. More economic freedom, lower taxes and your employees get “free” health insurance. Plus, all the maple syrup you can eat.

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