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US effective corporate tax rate on domestic profits fell to 12.1% in fiscal 2011 - - the lowest since 1972

US worker pay has fallen to a 50-year low as a ratio of company sales and US GDP (gross domestic product) according to JP Morgan Chase, one of America's biggest financial firms. Profit margins were at their highest level in 2010 since the mid-1960s but in fiscal year 2011 which ended on September 30 last, the US effective corporate tax rate on domestic profits fell to 12.1% - - the lowest since 1972 and well below the 25% companies paid on average from 1987 to 2008.
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