The generic drug maker Mylan, currently located in Canonsburg, Pa., is planning to incorporate in the Netherlands, where tax rates are lower. (Jeff Swensen, Getty Images North America)
Re: “Stem the tide of corporate flight,” July 21 editorial.
While the Denver Post editorial board bemoans a U.S. corporate tax rate “burden” of 35 percent, what it fails to take into consideration is the more illuminating effective tax rate. According to a column by Bruce Bartlett, former policy wonk for both Presidents Ronald Reagan and George H. W. Bush, published in The New York Times last Nov. 26, a 2013 study by the General Accounting Office determined that, on average, U.S. corporations in 2010 payed an effective tax rate — that is, with deductions — of 13 percent on their worldwide income.
I am reminded of the alimony scofflaw who complains of how his ex-spouse is bleeding him dry while skipping two of every three payments.
Lewis J. Thompson, III, Denver
This letter was published in the July 29 edition.
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