Category → Organization for Economic Cooperation and Development
President Barack Obama put forward a plan on Wednesday which would slash the country’s
corporate tax rate from 35 percent to a more competitive 28 percent.
The current tax rate for companies is one of the highest in the
world, although the tax code is riddled with a multitude of loopholes
and tax breaks, which means that a large number of U.S. businesses
actually pay a much lower proportion of their profits to the Internal
Revenue Service (IRS).