Former McDonald's USA CEO: $35K Robots Cheaper Than Hiring at $15 Per Hour

[DonFerrari]

sc94597 said:

Nuvendil said:

Not to mention that 35% - which is higher than the vast majority of nations - is merely the FEDERAL tax.  State taxes can go as high as 12%.  Meaning there are many states with a total corporate tax of over 40%

Oh this was about corporate taxes? That then makes the claim I was quoting just outright false. The U.S has the highest nominal corporate tax rate, and the second highest effective (after tax-inversion) corporate tax rate (after New Zealand) among OECD countries. 

The world average corporate tax rate is 22.4%. There are countries like Ireland (12.5%), Liechtenstein (12.5%), and Hong Kong (16.5%) with very low corporate tax rates, but first world economies. The average corporate tax rate for European countries is 18.6%, EU (22.6%) and for OECD (25.2%.) 

A corporate tax rate of almost 40%, as you noted, is indeed unreasonable. And with state corporate tax rates, it is no wonder corporations are fleeing progressive states. 

I hope that ends the argument people are making that such a high corporate tax rate is normal, and that it should be even higher. 

And on this bombshell we can finish the "the rich should pay more taxes" argument.