The average U.S. corporate tax rate is 35%, not counting discounts and write-offs, with many in Congress calling for it to be reduced to 25%.
FORBES: In US, Corp Tax Rate Higher Than Big Emerging Mkts, But CEO Pay Even Higher
Counting food and energy, prices rose at an annualized rate of 7.2% last month.
That would reduce the American corporate tax rate to nearly 20% on average, counting state rates, sufficient to restore the global competitiveness of the American businesses workers are counting on for jobs and higher wages.
FORBES: Presidential Debt-Limit Deceptions And Economic Growth
The prospect of choosing between multiple job offers may seem unlikely these days, given all the talk of joblessness and the real unemployment rate of 15.1% (counting people who have given up looking for work, and those working part-time who wish they had full-time jobs).
This is on top of the current corporate tax rate of nearly 40% nationwide on average, counting state corporate tax rates.
Counting those who remain in the labor force, the unemployment rate for people with disabilities was 12.9% in January, compared with an unemployment rate of 8.7% for people without disabilities.
That and the president's tax policies give the moneyed class some disquiet. (The corporate rate is 38.5%, the highest personal income tax rate 35%.) But business owners are counting their blessings.
That got me to thinking: We still have a 9% unemployment rate, which is much, much higher when counting those persons who are involuntarily employed only part-time or who have entirely dropped out of the labor force.
In addition, American business currently suffers virtually the highest corporate tax rate in the industrialized world at nearly 40%, counting state corporate rates on average.
That means Apple could effectively lower the U.S. unemployment rate by a tenth of a percentage point, not counting the economic effect of adding those jobs back into the U.S. economy.
WSJ: Writing on the Wall: Apple's Rotten Side Has A Familiar Look
America suffers from virtually the highest corporate tax rate in the industrialized world, nearly 40% on average counting state corporate income taxes.
Iraq's population--currently 12.5 million, not counting perhaps 1 million imported workers, mostly Egyptians--is growing at the vertiginous rate of about 3.5% a year.
The median survival rate for 97 patients on IL-13 almost doubled from 26 weeks to 44 weeks--and counting.
America's potential growth rate then comes to around 3%, rather than the 4% that most American economists had been counting on.
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