corporate taxes at historic lows.

Discussion in 'Politics & Religion' started by Free Thinker, Apr 14, 2011.

  1. gee, why dont we just do what the republicans want to do and lower corporate taxes even further.

    http://www.ritholtz.com/blog/2011/04/corporate-tax-rates-then-and-now/

    GE paid no taxes; Goldman Sachs paid $14 moillion last year. The GAO reported in 2008 that “two out of every three United States corporations paid no federal income taxes from 1998 through 2005.”

    Companies have become all too astute at paying for loopholes which allow them to shift profits abroad, or move their gains (on paper) to foreign low-tax/no-tax nations. Since tomorrow is April 15th, it is a good time to look at our corporate tax rates. As the graphic below shows, the change in corporate tax rates over the past half century is astounding.

    Corporate Taxes as a Percentage of Federal Revenue
    1955 . . . 27.3%
    2010 . . . 8.9%

    Corporate Taxes as a Percentage of GDP
    1955 . . . 4.3%
    2010 . . . 1.3%

    Individual Income/Payrolls as a Percentage of Federal Revenue
    1955 . . . 58.0%
    2010 . . . 81.5%

    Anyone who is serious about closing the US deficit should consider the changes in what corporations pay in taxes and the rise of the deficit.
     
  2. All taxes should be brought back to 1955 levels with no loop holes

    Republicans complain about the deficit and the debt but Paul Ryans recent budget plan calls for cutting the top tax rates another 10 %.What a joke these people and their followers are
     
  3. We should eliminate corporations. Then we wouldn't have to worry about their taxes.

    All they do is rob people, kill woman and children and make life miserable for the delta smelt.