Highest Corporate Taxes in the World

The United States is once again number one but not in an area where it is a matter of pride.  Thanks to a recent move in Japan to lower their corporate tax rate, the United States is now the highest corporate tax rate in the world.  This, of course, has many people screaming about the need to lower these taxes.  And I mostly agree.


I say I mostly agree because I think that before we just lower the tax rate, the corporations need to do their fair share.  Many industries in this country have been making record profits.  These industries include financial institutions, insurance companies and oil companies.  If they make record profits on our (the consumers) money, then they should certainly pay their fair share in taxes.  Many are now arguing that they are paying more than their fair share.


I would suggest that we revise the tax rate but only for those companies that meet two criteria.  The first is that if they are a company that is headquartered in the United States, no part of their operation can be outsourced to a foreign country.  They can certainly have offices in other countries but their IT department for America must remain here.  Their Human Resources for America must remain here.  Their Customer Service for America must remain here.  If any part of their operation services American consumers, it must be done on American soil.  This would also apply to any company that is not headquartered here but has operations here.  Any service provided to Americans must be provided here.


Why should we lower taxes on a corporation that is sending jobs overseas?  We need to get Americans working and rewarding companies that take jobs away from Americans is not something this country should allow.


Second, no one in the company can make more than twenty times what the lowest person in the company earns.  This amount includes their entire compensation package; salary, overtime, bonuses, benefits, pension payments, stock options and any other part of their compensation.


Tax breaks would certainly help the corporations make more money, which would allow their stock to rise and allow them to hire more people but the truth is, many companies already spend far too much of their earnings on executive salaries.  The gap between the rich and the poor in this country is growing wider and the middle class is continually being pushed downward.  That trend needs to stop.  There is no reason why our government should reward a company that pays its workers under $50,000 a year and then pays $15 million to an executive.  


We, the American people who buy the products and services of these corporations are ultimately the ones who pay these taxes.  It's our money.  I, for one, do not want my money going to companies that send jobs overseas or pay exorbitant salaries to a small group of individuals.