Fact-check: “The US has the highest corporate tax rate in the developed world”
Verdict: False (92% confidence)
The US federal statutory corporate tax rate is 21%, set by the 2017 Tax Cuts and Jobs Act. That is lower than the statutory rates in France (25%), Spain (25%), Belgium (25%), the UK (25%), and Italy (24%+), and lower than Germany's and Japan's combined rates of roughly 30%. The US does not have the highest corporate tax rate in the developed world by any standard measure of statutory rates among OECD countries.
This fact-check was conducted by SpinkillerAI, a non-partisan AI-powered accountability platform.
Related fact-checks
- Donald Trump Jr accepted a gift from a Russian oligearch — True
- European Union plans 200 million Euro investment in Greenland as a response to Trump's posturing — Mostly True
- Approximately 45% of the current Canadian population is made up of immigrants and the children of immigrants — Mostly True
- Recent job numbers increased faster than had been expected and are ahead of most analysts expectations — Partly True
- Medicare for all would cost trillions a year that Americans would pay through higher income taxes — Partly True