In the mid-1980s, the U.S. led the way to higher corporate income tax rates worldwide. Today, most of the G7 nations have surpassed the U.S. and have higher corporate income tax rates than the U.S.

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As of my last update in 2023, the trend has been towards lower corporate income tax rates worldwide, including in the G7 nations. The U.S. reduced its federal corporate income tax rate from 35% to 21% with the Tax Cuts and Jobs Act of 2017, making its rate lower than some G7 countries but not necessarily higher. Many countries have been competing to attract multinational corporations through lower taxes.

In the Mid-1980s, the U