The Tax Foundation has published The Economic Consequences of Being Left Behind: A U.S. Business Tax System that is Out of Line Internationally, by Robert Carroll:

The costly nature of the U.S. business tax system was underappreciated during the late 1980s and the 1990s, but now our corporate tax is coming in for some overdue and well deserved criticism. Proposals for reform have been offered by prominent leaders of both parties, and academics have also shown increased enthusiasm for major changes if not fundamental reform. …

The costly nature of the U.S. business tax system is particularly alarming in light of the trends among our major trading partners. As shown in Figure 1, the U.S. dramatically lowered its corporate income tax rate in 1986—dropping the federal corporate tax rate from 46% to 34%. Despite its status as a low-tax rate country two decades ago, however, the United States has fallen behind due to the steady decline in corporate tax rates abroad.