America’s Recipe For Disaster: How New Corporate “Amnesty” Plan Could Doom The Economy - Salon

[cyberswede]

11. Krugman: "The Tax Foundation is not a reliable source"

http://krugman.blogs.nytimes.com/2008/08/24/the-tax-foundation-is-not-a-reliable-source/

and

http://economistsview.typepad.com/economistsview/2008/08/the-greek-menac.html

Next, from Linda Beale:

The Tax Foundation is busy again pushing its latest propaganda idea--that the US has such high corporate taxes that it stifles competition and hurts our economy--with a new "competeusa.com" organization.

Wrong. Fact is, though our tax laws include statutory rates that are fairly high (35% for corporations earning about $18 million or more annually) but generally in the same ballpark as those of other developed western nations, the actual tax rates paid by US corporations are extraordinarily low, around 6%. Remember the latest GAO report (reported elsewhere on ataxingmatter) that shows that two-thirds of US corporations pay no federal income tax. That's not just the ones that are losing money, but also many corporations that have record high profits (including some Big Oil companies) that end up paying next to nothing in taxes.

...

As a result, the US is actually a corporate tax haven, with the lowest effective corporate tax rates of almost all the countries that participate in the OECD. That's a little fact that the Tax Foundation apparently doesn't want the American public to understand, since all its hype is in terms of statutory rates and not in terms of effective tax rates.