NAM and MAPI Foundation Release White Paper Showing Competitive Disadvantage — by Mallory Micetich
A white paper released recently by the National Association of Manufacturers (NAM) and the Manufacturers Alliance for Productivity and Innovation (MAPI) Foundation highlights that the U.S. corporate tax system is a drag on manufacturers’ global competitiveness.
The white paper looks at tax rates throughout the developed world. Findings include the following:
• The current global tax system in the United States puts manufacturing firms at a disadvantage inside and outside foreign countries.
• The already high corporate tax rate, coupled with double taxation of dividends and capital gains, reduces economic efficiency.
• Other countries are lowering their statutory corporate tax rates while the U.S. rate remains the highest among developed countries.