The World Economic Forum recently released their latest Global Competitiveness Report and after years of decline the US finds itself back in the top five at…#5. This time around, America falls behind Germany (#4), Finland (#3), Singapore (#2), and Switzerland (#1). Gains over the Netherlands and Sweden provide reason to hopeful. What stands out, however, are the things that the survey identifies as America’s biggest hindrances to competing in the global economy: tax regulations (the US was #69 in “Paying Taxes” in the World Bank’s Doing Business rankings), tax rates, and inefficient government.
Food for thought.