Toronto, Canada (ots/PRNewswire)

Many of the world's largest
economies have a common malady handicapping their abilities to
generate jobs and government revenues, according to an e- brief
released today by the Institute. From the United States, Germany and
Japan, to other engines of the global economy, they tend to have high
corporate income tax rates that blunt their competitiveness, making
it harder for manufacturing and service businesses to adopt better
technologies that  would boost workers' incomes. Except for the
United Kingdom, which is  committed to reducing its corporate tax
rate to 28 percent in 2008, most of  the world's major economies rely
on corporate rates in excess of 30 percent These high rates hurt
competitiveness, because when investment moves to low- tax
jurisdictions, prospects worsen for economic growth and job creation
These high tax rates also hurt government revenues, say the authors,
Duanjie Chen, Jack Mintz and Andrey Tarasov.     The e-brief, "The
High-Tax handicap: How the World's major Economies Shoot Themselves
in the Foot with High Corporate Income Tax Rates," is available at
http://www.cdhowe.org/pdf/ebrief_49.pdf.

Contact:

For further information: Jack Mintz, Professor of Business Economics;
Joseph L. Rotman School of Business, University of Toronto and
Fellow-in-Residence, C.D. Howe Institute,+1-416-978-2451; Finn
Poschmann, Director of Research, C.D. Howe Institute,+1-416-865-1904