Which of the following statements regarding U.S. corporate taxes is false?
A) The federal tax rate for big corporations is officially 35 percent of profits.
B) The federal corporate tax rate in the United States is one of the highest in Western democracies.
C) Few corporations actually pay the 35 percent corporate tax rate.
D) Most corporations pay a corporate tax rate of 25 percent or less, one of the lowest rates among Western democracies.
E) Federal corporate taxes have increased since the 1950s.
Correct Answer:
Verified
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