As Foreign Profits Rise, Corporate Tax Rates Fall
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Jan. 23 (Bloomberg) -- Globalization is creating twomisleading impressions about corporate taxes in the U.S.
First, corporate-tax revenue is keeping up with recenthistorical averages as a share of gross domestic product.However, that’s only because globalization has raised thecorporate-profit share of GDP, while reducing the share of laborcompensation.