American Workers Suffer as US becomes home to highest corporate taxes in World

According to a new study from the Tax Foundation the U.S. ranks second in the World, trailing Japan for having the highest corporate taxes. On a more disturbing note 24 states ranked higher than Japan on the list. Iowa having the highest corporate tax rates in the World at 41.6%

States known for their fairly low state-level corporate tax rates such as Nevada , South Dakota , and Wyoming was still higher than France and 25 other countries at 35%

32 states have a combined corporate tax rate higher than third-ranked Germany , 46 states higher than fourth-ranked Canada and all 50 states were higher than fifth ranked France .

This could be one of the reasons for a failing economy. It is definitely a reason for jobs leaving the US .

“This is startling news for America ’s business and workers,” said Tax Foundation president Scott Hodge. “Tax competition for jobs and investments is fierce, and the US continues to fall further and further behind. Our states should be the world’s leaders in many things, but high taxation should not be one of them. The high federal corporate tax rate is literally crushing states’ competitive abilities. That means fewer jobs for American workers.”

Don’t expect this new study to get much play in the mainstream media. Why? Well because taxes are boring, and stories like Obama and his pastor, or a real good sex scandal will always get better ratings than taxes. Plus the media really just doesn’t want you to know or understand these things. It goes directly against the liberal agenda that we need higher taxes on evil corporations.

This study rejects that idea and shows that a lot of US states are taxing the providers of jobs higher than any other developed country in the world. Anyone who knows the slightest thing about economics will immediately see this could be a problem.

Those who have read my writing for a while know I have always made the claim workers suffer the most when their employers are forced to pay high corporate taxes, but don’t take my word for it. In a related study the Tax Foundation found workers bear 70% of the burden of corporate income taxes.

You want to bring jobs back to America ? You want to revive the economy? Here is a crazy idea, how about the FairTax? It would make the US corporate tax system the most competitive in the world by eliminating it. Imagine how many jobs would flock to America if there were no corporate taxes.