RPORATE FASCISM

This chart tells quite a story. The 1950s and 1960s were pretty good economic times for middle class Americans. Jobs were plentiful and the average hard working American had a decent chance to have a better life than their parents. The tax burden was shared equally between individuals and corporations. Excise taxes on imports, which had been the sole tax revenue generator prior to 1913, were still substantial. Payroll taxes on the working middle class only accounted for 5% to 10% of tax revenues. Look what has happened since. The Federal government has been captured by corporate interests (they’re people too). Corporate taxes, which provided 30% of Federal revenues during the 1950s, now provide about 5% of Federal revenues. Payroll taxes on the middle class now provide 40% of revenues. Excise taxes have been virtually eliminated, allowing mega-corporations to ship middle class jobs overseas and not worry about any negative tax consequences. Even though the individual tax burden has stayed constant, the burden has been shifted to the working middle class, as the rich have used their influence to dramatically reduce rates on capital gains and high income. Welcome to our corporate fascist state where you are taught to love your slavery.