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Liberals always want to emulate Europe, so let's do it! There's a tax-cutting war going on there. Let's join in!

The move toward lower levies on corporate profits in Spain, Germany, France and Britain is aimed at attracting companies and reinforcing the strongest economic expansion in six years. It comes after Ireland and new European Union members from Eastern Europe succeeded in attracting investment, and irking their larger rivals, with tax rates of less than 20 percent, among the world's lowest...

The EU's average corporate tax rate at the end of 2006 was a record low of 26 percent, and more cuts are in the works this year. Gordon Brown, the British chancellor of the Exchequer and prime minister-in-waiting, in March lopped two percentage points off the top rate, which is now 28 percent. The lower house of the German Parliament last week backed Chancellor Angela Merkel's plan to pare its corporate rate to 30 percent from 39 percent.

Nicolas Sarkozy, who was elected French president this month, promised to reduce his country's 33 percent rate by at least five percentage points. The Spanish government under Prime Minister Jos? Luis Rodr?guez Zapatero is cutting its rate to 30 percent from 35 percent; and the prime minister of Italy, Romano Prodi, is considering a reduction in his country's 33 percent rate.

By the way, the corporate tax rate in the US is 35% -- equal to the very highest figure mentioned here!

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