By contrast, Romney would reduce America’s corporate tax rate (the highest in the OECD) to 25% and tax American multinationals on a territorial, rather than a worldwide, basis in order to increase their tax competitiveness. He would also lower personal tax rates by 20%, and make up lost revenue by limiting tax deductions and credits, particularly at the upper end, thereby raising about 18.5% of GDP, just above the historical average, at full employment.