Wonder why we are losing jobs to other Nations?
Wonder why we are losing jobs to other Nations? One reason is our ridiculous corporate tax rate. Corporations currently pay a 40% tax rate. That is higher than all but three nations in the world (Japan-40.69%, Kuwait-55%, and UAE-55%). Our tax rate is over 14% over the worldwide average.Since consumers actually pay all corporate taxes through the price of the product or service that means we pay 14% more than the worldwide average. So this tax rate is forcing jobs overseas and causing us to pay more for products and services just so congress can squander the money on pork barrel spending. The only way America can get jobs back and hold on to the ones we have is to make our tax rates competitive.That’s not going to happen if Obama gets in, McCain is the only candidate willing to lower these taxes. Obama actually proposes raising them further to help pay for his socialist programs. For me the choice is clear, we can’t afford to send any more jobs overseas. McCain is the only answer.