This from a new IMF study on how countries should boster their economies. This bit got my attention:
Reduction in corporate tax rates, dividends and capital gains taxes or introduction of special incentives such as accelerated depreciation … are likely to be ineffective given that business profits and capital gains are low, except possibly in countries with very high corporate rates (e.g., Japan); like all such tax changes, they are often difficult to reverse.
Me: Gosh, are there any other countries that immediately pop to mind that have high corporate tax rates? How about the country right behind Japan? That would be U.S., brother.