Corporate Coalition Says Obama Investment Taxes Near World High
This article is for subscribers only.
A coalition of business groups and companies including Altria Group Inc. and Xcel Energy Inc. is warning Congress that failing to extend tax breaks on investment income would make U.S. tax rates on capital gains and dividends among the highest in the industrialized world.
The group, the Alliance for Savings & Investment, will release a study today showing that the U.S. has the world’s fourth-highest integrated tax rate on dividends and capital gains -- 50.8 percent including the effect of the corporate income tax and state taxes. Only France and Denmark have higher tax rates than the U.S. on both capital gains and dividends, according to the study.