The United States is a world leader when it comes to corporate taxation — and that’s not a good thing. We rank No. 2 among developed countries, and nearly half of U.S. states have corporate tax rates higher than top-rated Japan.
Lest you say “I don’t care about corporate rates as long as the government isn’t taxing me personally,” remember the business world’s penchant for passing the tax bucks along to consumers.
You eventually pay the tax bill in the form of higher prices on goods and services. That truism is most obvious at the gas pump but also on utilities, communications and other bills. Big Business can escape the tax man; Joe Six-Pack of Soda can’t.