From Treasury’s Conference on Tax Competition

By July 27, 2007Economy

Secretary Paulson organized a daylong conference Thursday to bring attention to the U.S. system of business taxation and where it falls short in promoting global competitiveness. From his closing statement:

It is clear from our discussion that America needs to remain alert and responsive to changing global economic conditions. Other nations have seen the results of the bold tax reforms enacted by the U.S. in the 1980s and they have moved to follow our example. And with much of the world having reduced their corporate rates, we now have the second highest statutory corporate tax rate among OECD nations.

The NAM’s statement on the conference is here, quoting from our senior vice president for policy, Jay Timmons.

The AP has a good piece on yesterday’s conference here. Included is this pointed statement from Alan Greenspan:

I think the signs are that we are moving towards a protectionist, closed society and that would be the most extraordinarily damaging thing to our standards of living.

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