Discussion Post
Before 2018 the highest corporate income tax rate in the U.S. was 35%. Since 2019 the corporate tax rate has been a flat rate of 21%. President Biden has proposed to increase the corporate tax rate to 28%. When the highest corporate tax rate was 35%, that was the highest corporate income tax rate in the world. What do you feel is an appropriate income tax for corporations to pay? Why? Consider corporate income tax rates in other parts of the world in answering this question.
Task
• How will the increased corporate tax rate affect foreign activity?
• What tax rate would be most appropriate for corporations and why?
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.