Myth: U.S. Corporate Tax Rates Are High

Tax collections as a share of GDP are a good indicator of a country's tax rate; in the last seven years, the U.S. has collected an average of 2.4 percent of its GDP in corporate taxes—less than the average 3.4 percent collected by other industrialized nations. If laws remain the same, U.S. corporate taxes will be only 1.9 percent of GDP in less than ten years.