Categorized | General Interest

Shocker: Corporations Paying Less Taxes

    I know this won’t shock those of you who already know something is up. But, the details are important–from the folks at the Economic Policy Institute:

Over the last 60 years, the U.S. tax code has dramatically shifted away from corporate taxes and toward taxes on individuals, especially through the payroll tax, the financing backbone of Social Security and Medicare. In the 1950s, the corporate income tax brought in, on average, one of every four dollars in federal tax revenues. By the 2000s, however, it raised just one of every 10 tax dollars.

    Read the rest here.

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