Friday, December 28, 2012
The World Bank on High Corporate Tax-Rates (Yeah, You Heard Me Right)
"High tax-rates do not always lead to high tax revenues. Between 1982 and 1999, the average corporate income tax-rate fell from 46% to 33% while corporate income tax collections rose from 2.1% of national income to 2.4% of national income."......Wow, it seems as if they're saying that competitive tax-rates can sometimes improve a country's economy/ its economic standing in the world. Who'd have ever thunk it?
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2 comments:
First I think you need to look at what is included in "national income" and secondly you need to look at how corporate profits increased relative to other income, and thirdly, how did other national income sources tax rates change. As you know, you can make statistics say what you want them to say.
This is the World Bank, Jerry. If there was a way that they could have made high corporate income tax-rates look like the cat's meow, they thoroughly would have done it.......I suspect that national income is the same thing as GDP.
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