Reports from the Economic Front

a blog by Marty Hart-Landsberg

Disappearing Corporate Taxes

The following chart from an Economic Policy Institute economic snapshot makes clear that we have every reason to raise corporate taxes in order to adequately fund needed public investments and social programs.

Corporations have enjoyed a series of tax cuts and loopholes which have enabled them to lower their income tax payments.  In 1952 their income tax payments totaled 5.9 percent of GDP.  In 2015 they were equal to only 1.9 percent of GDP.

 

corporate taxes

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