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America has the world’s highest corporate income taxes!

April 17, 2011

Or so we are told.

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7 comments

  1. Hard to know, as long as they aren’t paying them. So is the argument, If we reduced them, maybe they would pay SOMETHING? It’s trickle down all over again (or still). I can’t figure out how people buy the argument that tax reduction “creates jobs”. You reduce taxes, and the “job creators” just keep the money. End of sentence.


    • If we reduced them, maybe they would pay SOMETHING?

      I know you aren’t being serious. Paying even one dollar would be too much, if you ask them.

      Remember when we had a surplus, and the Republicans went around complaining that we were being “overcharged”? So that was a good time for a tax cut, right? Never a thought for paying down that all-important national debt. Never mind the grandkids. That was then. This is now.

      Record deficits now? Good time for a tax cut. When ISN’T it a good time for a tax cut?

      Lower taxes. They don’t care about anything else. Ever.


  2. Tax reduction is not the incentive. Closing loopholes and rewarding companies for hiring is.


  3. Of course I’m not serious. Just trying to highlight the illogicality. They don’t pay now, they won’t pay later, if they can get away with it. See my second comment re: tax reduction. And that is too bad about the grandkids. During the Depression, people were worried about keeping the kids alive long enough to even have grandkids. The hell with the future that didn’t involve putting food on the table TODAY. We are there, right now.


  4. http://www.nytimes.com/2011/04/17/us/17bcstevens.html

    Some folks should pay A LOT of taxes. Didn’t earn what they have, no contibution to society, 100% would be about right.


  5. 1. The U.S. is a low tax country, with government receipts coming in under the OECD average.

    2. Federal income taxes on the typical family are historically low, having fallen by more than half since the 1980s.

    3. Corporate income taxes are also at their 60 year low, having fallen 80 percent of their GDP share since the 1950s.

    4. Effective tax rates on the wealthiest have declined steadily for the last 20 years.

    5. The Bush tax cuts increased after-tax income by about $900 for the typical earner and $130,000 for the typical millionaire.

    6. Letting the Bush tax cuts expire would reduce our debt to GDP ratio by more than a tenth of our economy.

    7. Tax expenditures — spending through the tax code, like the mortgage interest deduction — amounts to more than $1 trillion, more than Medicare/Medicaid or Social Security.

    8. Percentage income gains at the top percentile between 1979 and 2007 outpaced the middle quintile by a factor of 10.

    9. The top 1 percent’s share of total after-tax income has doubled in the last 30 years.

    10. Most of the budget goes to health care, retirement security, and defense.

    http://www.cbpp.org/



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