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Ranchers.net

This Hope and Change sure seems to be helping Canada. :wink:

While members of Congress spent the last decade lobbing cow pies at each other, their counterparts in Canada were accomplishing what Washington should have been doing: streamlining the nation’s tax structure to attract more companies.

Canada cut its corporate tax rates over the course of a decade, with the combined average rate dropping from 42.6% in 2000 to today’s 26.5% rate. That occurred despite the same concerns many have in the United States about lost government revenue and a higher burden on individual taxpayers. One recent study found that the share of family income going toward taxes has been going up, although Canadians get universal healthcare coverage as part of the bargain, along with old-age pensions that in some ways are more generous than Social Security.

Canada has also been running an annual budget deficit since 2008, though the recession had a lot to do with it. Prime Minister Stephen Harper has since pared the deficit, which is now just 0.9% of Canada’s GPD. This year’s U.S. deficit of $500 billion or so will equal nearly 3% of GDP.

Canada, meanwhile, has been rising in the ranks of business-friendly countries, while America has been falling. Accounting firm KPMG says Canada has the second-lowest business costs of 10 major countries it analyzed, after Mexico. The United States has the second-highest costs, ahead of only Germany. (And even Germany has lowered corporate taxes during recent years.) The United States is still ahead of Canada in the World Economic Forum’s competitiveness rankings, but that’s largely because Canada falls short on corporate R&D and lacks a Silicon Valley-style hub of innovation.

http://finance.yahoo.com/news/why-more-u-s--companies-will-flee-to-canada-170750190.html
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