From the WSJ:
The cutting of corporate income- tax rates is an excellent example of European market-friendly bipartisanship. Germany's right-left coalition of Christian and Social Democrats implemented a large rate cut earlier this year, reducing the top marginal corporate rate to about 30% from 39%. Spain's Socialist and Britain's Labor governments have followed suit, reducing their countries' top corporate rates.
These traditionally left-of-center parties understand that in a globalized economy, wealth and investment are mobile, flowing to those countries that provide hospitable investment climates. As part of a European Union where center-right governments in Greece, Denmark, Ireland and Eastern Europe have dramatically reduced corporate tax rates, they understand that they cannot help workers if they drive away the capital that employs and pays them. (more)
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