I came across an interesting article the other day concerning the rising costs of doing business in the US and the lack of middle class jobs. The article talks about the lowering of corporate tax rates to combat these two issues at the same time. I think a major problem we have is that the large corporation don’t bring the profits back to the US so they can avoid our large corporate tax rate. Just look into articles about Apple and many other major companies that have foreign subsidiaries setup to avoid the US tax rates.
This isn’t an issue that will help you planning your personal tax return but it’s an birds eye view of how income tax structures can impact the economy. Click here to read more about it.