In his televised address across the African continent last Saturday, President Obama stated with true wisdom: No business wants to invest in a place where the government skims 20 percent off the top.
We couldn’t agree more! The U.S’s exorbitant average marginal corporate tax rate of 39.3% is exactly the reason business and investment is fleeing the U.S in droves.
Having recognized this problem, Mr. Obama, we’re waiting for you to call for an immediate reduction of the top corporate tax rate to 19% (while this will still be higher than many countries, it will certainly be a great start)!
So, Mr. Obama, now it’s over to you!