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Economics

How Do Adults Across the World View the Current Level of Taxes that Corporations Pay?

London skyline, via Getty Images
By John Leer
July 12, 2021 at 8:49 pm ET

Adults across the 15 largest global economies view corporate taxation extremely differently, reflecting countries’ histories and cultural norms in terms of the role of private enterprise in driving sustainable and inclusive economic growth.

Support for increasing corporate taxes does not clearly correspond to existing corporate tax rates. In India, where corporate taxes are high, almost half of survey respondents strongly approve of corporations paying more in taxes. On the other hand, in the United States where corporate taxes are relatively low, a relatively large share of adults (65%) also believe companies should pay more in taxes.

Statutory and effective tax rates in all 15 countries included in this survey comfortably exceed the 15% minimum contemplated by the current proposal, meaning that corporate taxes in these countries are unlikely to materially change if the draft agreement is signed into law in all of these countries. 

If negotiating parties decide to increase the proposed minimum tax rate to 20%, the United Kingdom would be obligated to increase its corporate tax rate, and 66% of UK residents agree that corporations should pay more in taxes, the fourth highest value across the 15 largest economies.

  • John Leer

    John leads Morning Consult’s global economic research, overseeing the company’s economic data collection, validation and analysis. He is an authority on the effects of consumer preferences, expectations and experiences on purchasing patterns, prices and employment. John continues to advance scholarship in the field of economics, recently partnering with researchers at the Federal Reserve Bank of Cleveland to design a new approach to measuring consumers’ inflation expectations. This novel approach, now known as the Indirect Consumer Inflation Expectations measure, leverages Morning Consult’s high-frequency survey data to capture unique insights into consumer’s expectations for future inflation. Prior to Morning Consult, John worked for Promontory Financial Group, offering strategic solutions to financial services firms on matters including credit risk modeling and management, corporate governance and compliance risk management. He earned his bachelor’s degree in Economics and Philosophy with honors from Georgetown University and his master’s degree in Economics and Management Studies (MEMS) from Humboldt University in Berlin.  His analysis has been cited in The New York Times, The Wall Street Journal, Reuters, The Washington Post, The Economist and more. Follow him on Twitter at @JohnCLeer. 

Corporations Economic Intelligence Tax Policy
Morning Consult