This week I decided to help repurpose some data that wasn't seeing as much love as I felt it could. The data comes from a couple CNBC articles [1][2] that chose poorly with their visualizations (eg. pies!).
The main thing I found interesting in this data was the completely selfish interest of how much tax revenue my state where I live might receive had this revenue been taxed. So I combined the data found in those CNBC articles and the corporate tax rate for each state [3] in the United States to estimate how much my state might receive.
*this viz is location aware so it should automatically have found your state if you're in the US. I'll post a tutorial on how to do that later
What do you think? Is it the companies being bad citizens or the fault of the insane tax code in the US?
Would companies keep their presence in the state if the corporate tax loophole was closed? Are they doing more harm to the state by not paying those taxes or doing more good by supplying jobs?
These are a few more questions I’d propose to the public and the legislators. I’m all for closing loopholes and adjusting corporate tax rates to keep US companies on our soil, but I’d like to identify the consequences if it were done poorly before making any broad stroke decisions. That goes specifically for my state, Illinois, with its incredible amount of debt and spending problems.
Yeah great questions. I know the film industry has suffered greatly in the US due to other countries offering tax incentives so it certainly has happened in the past.