Why the United States Needs to Restructure the Corporate Income Tax
To increase employment and expand their economies, most developed countries are both reducing their corporate tax rates and restructuring their corporate tax systems. The United States appears to be taking the opposite approach. Consequently, the increasingly costly U.S. corporate tax structure is driving competitive, profit-seeking corporations to minimize their tax exposure and defer income overseas to lower-tax countries. Unless the United States reforms its corporate tax system, the country will fall further behind in global competitiveness.