Saturday, October 22, 2011

Canada ranks No. 1 in “Best Countries for Business”

"Canada ranks No. 1 in our [Forbes] annual look at the Best Countries for Business. While the U.S. is paralyzed by fears of a double-dip recession and Europe struggles with sovereign debt issues, Canada’s economy has held up better than most. The $1.6 trillion economy is the ninth biggest in the world and grew 3.1% last year. It is expected to expand 2.4% in 2011, according to the Royal Bank of Canada. . .

What hurts the U.S. is its heavy tax burden. This year it surpassed Japan to have the highest corporate tax rate among developed countries. The U.S. also gets dinged for a poor showing on monetary freedom as measured by the Heritage Foundation. Heritage gauges price stability and price controls and the U.S. ranks No. 50 out of 134 countries."

The Best Countries For Business - Forbes

Instead of liberal celebs threatening to relocate to Canada, maybe we'll see American entrepreneurs go there. It's closer than China, safer than Mexico. For starting a new business, the U.S. ranks #13 (New Zealand is #1).


Fred said...

If our corporate tax rates are so much higher than Europe, what's all the fuss about?

Heather Hadden said...

Corporate tax rates vary throughout Europe and it cannot be generally said they are lower as those in Canada. I consider recent improvements
in sales tax (e.g. harmonization in Ontario and British Columbia) to be the major factor in country´s overall tax burden being lower, thus earning Canada many good points to become absolute winner of this year´s ranking.