"Following tax reform in the United States, France now has the highest taxes on corporate income-a combined rate of about 34 percent," the Tax Foundation notes in its latest International Tax Competitiveness Index.
Increased economic freedom also puts Americans in the running for the improved prosperity, longer life expectancy, and enhanced civil liberties that come hand-in-hand with less state meddling in economic matters.
The Tax Foundation's index is more focused than those produced by the Fraser Institute and Heritage Foundation, examining the degree to which governments keep their tax rates neutral-that is, not favoring one behavior or group over another-and low.
"If a country's tax rate is too high, it will drive investment elsewhere, leading to slower economic growth." The 2018 Index adds that "a tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities."
The tiny Baltic nation "Has a 20 percent tax rate on corporate income that is only applied to distributed profits. Second, it has a flat 20 percent tax on individual income that does not apply to personal dividend income. Third, its property tax applies only to the value of land, rather than to the value of real property or capital. Finally, it has a territorial tax system that exempts 100 percent of foreign profits earned by domestic corporations from domestic taxation, with few restrictions."
"It has one of the highest corporate income tax rates in the OECD, high property taxes, an annual net wealth tax, a financial transaction tax, and an estate tax. France also has high, progressive, individual income taxes that apply to both dividend and capital gains income."
In recent years, the "United States adopted a comprehensive tax reform package that included a reduction of the corporate income tax rate from 35 percent to 21 percent, improvements to expensing of capital investments, and rate changes for the personal income tax," states the Tax Foundation report.
http://reason.com/archives/2018/12/04/tax-reform-makes-us-more-attractive
Increased economic freedom also puts Americans in the running for the improved prosperity, longer life expectancy, and enhanced civil liberties that come hand-in-hand with less state meddling in economic matters.
The Tax Foundation's index is more focused than those produced by the Fraser Institute and Heritage Foundation, examining the degree to which governments keep their tax rates neutral-that is, not favoring one behavior or group over another-and low.
"If a country's tax rate is too high, it will drive investment elsewhere, leading to slower economic growth." The 2018 Index adds that "a tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities."
The tiny Baltic nation "Has a 20 percent tax rate on corporate income that is only applied to distributed profits. Second, it has a flat 20 percent tax on individual income that does not apply to personal dividend income. Third, its property tax applies only to the value of land, rather than to the value of real property or capital. Finally, it has a territorial tax system that exempts 100 percent of foreign profits earned by domestic corporations from domestic taxation, with few restrictions."
"It has one of the highest corporate income tax rates in the OECD, high property taxes, an annual net wealth tax, a financial transaction tax, and an estate tax. France also has high, progressive, individual income taxes that apply to both dividend and capital gains income."
In recent years, the "United States adopted a comprehensive tax reform package that included a reduction of the corporate income tax rate from 35 percent to 21 percent, improvements to expensing of capital investments, and rate changes for the personal income tax," states the Tax Foundation report.
http://reason.com/archives/2018/12/04/tax-reform-makes-us-more-attractive
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