While the high US corporate tax rate looks ominous, the vast tax loop holes in the US tax code make it possible for some companies to pay very little tax.
The US is one of the only developed countries to not have a national consumption (sales) tax. European countries have a valued added tax (VAT) and here in Canada we have a GST. Herman Cain has recently suggested the the US should adopt his 999 tax plan. A 9% flat tax on income, a 9% flat tax on sales and a 9% flat tax on corporations.