The last column shows that tax revenue is at a 60 year low as a percentage of GDP at only 15.8% of GDP.
Historical Source of Revenue as Share of GDP
Historical Source of Revenue as Share of GDP
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
well duh, that's what happens when there's massive unemployment. no jobs, no tax revenue.
Obama 2016!
also it shows we don't need much tax revenue to fund the govt. we're massively over taxed as it is.
Corporations need to start paying their fair share according to that chart.
seriously your an idiot your twist everything to suite your ideology vs looking at data with out any bias, besides ACA there has been no major change in policy from the GWB to Obama admins remember the right took control of the House 1 year after Obama was elected.
The drop in revenue is from the 2008 economic downturn and the ability for large firms to "shift" monies around to enable them to pay the least amount of taxes possible.
You see the drop in corporate taxes after the combined effect of the dot.com bubble burst and the Bush tax cuts in 2001 then from 2008-present from the document above and below a graph from the FED.
Graph: Federal Government: Tax Receipts on Corporate Income (FCTAX)/Gross Domestic Product (GDP) - FRED - St. Louis Fed
they need to start paying NO taxes.
the more they pay in taxes the less they'll pay their employees wages. they're going to cut costs somewhere which probably means less pay increases
^^^never ran a business
they need to start paying NO taxes.
the more they pay in taxes the less they'll pay their employees wages. they're going to cut costs somewhere which probably means less pay increases
and this is based on what empirical data? let me guess none, only ideology. their share of taxes has been constantly reduced over the past 80 years and yet employee pay and benefits are steadily decreasing.
corporations are paying half the tax now as there were in the 70's and wages remain stagnant once adjusted for inflation. As usually your economic assertion s based on ideology holds no water in reality.
is there any bullshit you don't fall for? LOL still trying to apply 1700s economic theory in the real world are you?
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2014/assets/hist02z1.xls
simply take column (c5/i5)*100 to get the percentage of tax revenue from corporations
The data doesn't say what you want so it's misleading?
no, the data just says what the tax rates were in the 70's. but the data doesn't show no one paid those high rates with all the deductions and loopholes.
So research it and come back with the truth.
um yeah ok sure I'll get right on that.
it's called real world experience something you clearly know nothing about.
are you that misinformed? your data is misleading and you do It on purpose to get people on your side. you have to deceive people into believing your nonsense. see, you read data about high tax rates in the 70's and you actually think those high rates were paid? lol. stop reading all the leftist writings it's clouding your judgment. your leftist buddies fail to tell you no one paid those high rates. But you fall for it every time. you're so gullible lmao
They won't pay their employees more if they suddenly had to pay no taxes. They would take the extra profit and STILL squeeze their employees.
^^^never ran a business
Indeed, there is evidence that a reduced corporate capital tax rate results in an increase in the flow of corporate capital to offshore investments, rather than stimulating the American economy and increasing the rate of hiring in the U.S.
http://www.cbpp.org/files/10-12-11tax.pdf
October 12, 2011
REPATRIATION TAX HOLIDAY WOULD INCREASE
DEFICITS AND PUSH INVESTMENT OVERSEAS