Quote:
Originally Posted by Azure
Yes, because no other country in the world has made any effort to lower their overall corporate tax rate in an effort to remain competitive with the rest of the world.
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Unfortunately, the whole "cutting taxes to remain competitive" thing is generally a canard; if you cut now, another desperate country will cut more. So once again, you're not "competitive."
Since the currencies and cost-of-living between countries is not at parity, simply cutting taxes without putting thought into the social repercussions is just short-sighted.
China doesn't care about the repercussions, but those of us in North America should.