Presented without comment. Source is page 68 of this PDF. Hat-tip to Stephen Culp.
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I suppose that’s what happens when you throw lobbyists at the government for 50 years. That said, I don’t really see the point of a corporate tax. Just treat dividends and capital gains as regular income, and adjust the tax brackets, in my opinion.
If you don’t tax corporate persons, then all individuals with the wherewithal to do so will become corporate persons for as many purposes as is humanly possible. Indeed, there’s a lot of that going around already. For the reductio ad absurdum version, see the recent Cohen-Levy/Assor conviction for tax fraud. The scandal isn’t what Cohen-Levy and Assor did that was illegal. The scandal is how close what they did was to being legal.
Can we ever get the affluent to stop condescending to us. We just don’t believe the nonsense they and their Legislators pour into sound bites.
The affluent aren’t condescending to us. They are lying through their teeth and stealing from our children via deficit funding of subsidies and tax cuts. Now they want to steal directly from us via raiding the Social Security trust fund.
And the media does not challenge them on their lies.
Put it this way: the lobbyists are just doing their jobs. The media are not.
More good reasons to shift the tax base to property or consumption. Doesn’t matter what kind of person you are…
Better charts of the day – the total amount of how much U.S. businesses have paid in federal corporate income taxes, payroll taxes and combined taxes, as a percent share of annual GDP, since 1946:
Comments provided at the link.
Subchapter S and FICA contributions. You probably should’ve presented with comment.
since it doesn’t bring in any money anyway…
can we eliminate this tax that so distorts incentives and end the charade that corporations pay taxes? Finally recognize that it’s really owners, workers and consumers who actually pay the tax?
Or do we keep it in place, thus providing full employment for lobbyists and crooked Congressmen?
Link to the definition of Tax Incidence, posted without comment.