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Friday, May 05, 2006

U.S. NO LONGER A 'TAX HAVEN"


Once upon a time (after the Reagan tax cuts in the 1980's, to be more precise), the United States was known as a tax haven since its tax rates were substantially lower than those of most other developed countries. Time has past, tax competition has worked its wonders, and the U.S. now lags the other developed countries in tax competitiveness. In the competition for capital, this has real world consequences for productivity and living standard enhancements.

The Tax Foundation now advises that the U.S. corporate tax rates are the second highest among developed countries:

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