Categories Uncategorized US: 2015 Economic Report of the President Post author By Philip Lane Post date February 20, 2015 1 Comment on US: 2015 Economic Report of the President This report is the primary ‘academic’ publication of the US administration – tons of interesting material here. Related ← Job Openings for Post-Doctoral Research Fellows → The Szasz Doctrine 1 reply on “US: 2015 Economic Report of the President” see Table 5.1 for Ireland ‘Chapter 5 shifts the focus to productivity growth with an examination of business tax reform as well as a briefer discussion about the complementary issues in individual taxation. In 2014, the top statutory corporate tax rate in the United States was roughly 10 percentage points above the OECD average. At the same time, the U.S. tax code is riddled with loopholes that benefit certain companies without justification. For example, the tax code gives U.S. corporations the ability to reduce dramatically their tax bills by locating subsidiaries in small, low-tax countries. This pattern is evident in the outsized amounts of foreign corporate profits reported in many of these countries (Table 5-1). The President’s approach would close loopholes in the tax code while making it more attractive for companies to locate and invest in the United States. The chapter describes this and other components of the President’s approach to reform, documenting four channels through which reform can boost productivity and living standards: encouraging domestic investment, improving the quality of investment, reducing the inefficiencies of the international tax system, and facilitating investments in infrastructure.’ The corporates & wall st., of course, control Congress – hence they have control of US democracy – and Congress, therefore, ‘nudges’ significantly *************************** in the interests of the corporates. KochBros, for example, have a slush fund of One Billion to ease the transition to further control of next US Admin with a decidedly neo-con flavour. Scary! Comments are closed.