Cavuto purported to "correct" Obama with corporate tax falsehood

SUMMARY: Fox News' Neil Cavuto stated that President Obama "misstate[d]" the facts on the U.S. corporate tax rate structure, and purporting to "correct" him, claimed that the U.S. corporate tax rate is "at a high 35 percent ... the highest in the industrialized world. That is un-debatable and unequivocal." In fact, while the U.S. statutory corporate tax rate is 35 percent, according to the Government Accountability Office, "Statutory tax rates do not provide a complete measure of the burden that a tax system imposes on business income." Additionally, World Bank and GAO data indicate that the U.S. effective corporate tax rate is lower than 35 percent and lower than several developed economies.

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