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The highest statutory tax rates in 2011 were found in the United Arab Emirates—at 55%; Japan—with a 40.69% tax rate; the United States – at 40%; Honduras, Malta, Pakistan, Sri Lanka, Sudan and Zambia —all tied at 35%. But in early 2012, Japan lowered its rate to 38.01%.

Corporate Tax by Country | Global Finance

America’s corporate tax rate is statutorily one of the highest in the world, however few corporations actually pay the statutory rate.
U.S. corporate taxes that were actually paid (the effective rate) fell to a 40 year low of 12.1 percent in fiscal year 2011 according to the CBO (Congressional Budget Office), despite corporate profits rebounding to their pre-Great Recession heights. The U.S. both taxes its corporations less and raises less in revenue from corporate taxes than its foreign competitors.

In fact, even as profits for American corporations hit a 60-year high in 2011, their effective tax rate hit a 40-year low, and the U.S. collects less in taxes as a percent of the total economy than every industrialized country in the world save Iceland.

It’s been 45 years since corporations paid the full top tax rate, and 26 American companies avoided taxation altogether over the past four years.

So the mantra that the corporate tax is "job killing" is bunk.

There's more to the story than the faux news bite.