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Bob Carey
Chief Market Strategist
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  When Being First Isn’t Best
Posted Under: Conceptual Investing
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View from the Observation Deck
  1. The U.S. supplanted Japan as the country with the highest total corporate tax rate in April 2012 at 40%.
  2. The marginal federal corporate tax rate is 35% in the U.S., but the total corporate tax rate includes an estimate for state and local taxes as well.
  3. As displayed in the chart, the average total corporate tax rate globally is 24.39%.
  4. This puts the U.S. at a competitive disadvantage in the world marketplace.
  5. U.S.-based corporations have a reported $1 trillion-plus sitting in cash holdings parked outside of the U.S., which would be subject to tax if repatriated to the U.S.
  6. CEOs are waiting for policy makers in Washington, D.C. to either reform the tax code or extend an olive branch via a special repatriation rate.
  7. We expect President Obama and Congress to address this issue at some point in 2013. Stay tuned.
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Posted on Thursday, January 17, 2013 @ 3:38 PM • Post Link Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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