You often hear people argue that the United States’ corporate tax rate of 35 percent is much higher than other nations, but don’t be fooled. Thanks to loopholes, the actual tax rate is much lower—about 18.5 percent according to a survey of the 280 largest publicly traded companies by the left-leaning Citizens for Tax Justice. About a quarter of the companies paid less than 10 percent in taxes over the past three years, while 30 companies—including Boeing, Wells Fargo, and GE—appeared to pay no taxes whatsoever. Some companies have disputed the study, saying it fails to account for deferred taxes.
