by Nick Giambruno, Senior Editor
You wouldn’t be surprised to come in dead last. After all, you didn’t put in much effort. Actually, you went out of your way to make yourself less competitive. So you would expect to lose.
It’s just common sense.
But this is exactly what U.S. politicians have been doing for years: passing tax laws that sabotage the country’s global economic competitiveness.
As you can see in the chart below, the U.S. has the highest effective corporate income tax rate in the developed world. This is a major reason why the U.S. is lagging behind in the global economic marathon.
These “worst in the developed world” tax laws are clearly hurting the global competitiveness of U.S. companies.