Tax Policy: Europe vs. the U.S.; Miami vs. Cleveland

By July 9, 2010Taxation

From Cato @ Liberty, “Thanks to Tax Competition, Corporate Tax Rates Continue to Fall in Europe“:

We recently endured the embarrassing spectacle of President Obama arguing with Europeans that they should increase the burden of government spending. Now we have a new report from the European Commission indicating that the average corporate tax rate in member nations of the European Union has plummeted to just 23.5 percent while the corporate tax rate in the U.S. has stagnated at 35 percent. In the past dozen years alone, as the chart illustrates, the average corporate tax rate in the European Union has dropped by nearly 12 percentage points. To make matters worse, the corporate tax rate in America actually is closer to 40 percent if state tax burdens are added to the mix.


Miami Herald, “Miami heat should reap windfall by landing LeBron James“:

Though James’ contract with the Heat will be shorter, and worth at least $29 million less than what he would have made in Cleveland, he will benefit from the lack of a state income tax in Florida.

“It’s a substantial advantage for players to come to Florida,” said Fort Lauderdale-based tax attorney Martin Press of Gunster Law Firm.

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