Corning Inc. and 30 other businesses would have the House Ways and Means Committee believe that the United States has the highest Effective Tax rate among the industrialized world when in fact many huge corporations paid no net federal income tax from 2008 through 2010. In fact 26 of the 30 paid negative federal income tax rates.

As American Billionaire Warren Buffet noted, “It is a myth” that U.S. corporate taxes are high… corporate taxes are not strangling American competitiveness.”