The Investigative Reporting Workshop recently tallied the growing gap between what percentage of the nation's total income tax bill individuals cover, versus how much corporations cover.
In the 1950s, corporations covered 39 percent of the nation's income tax bills, while individuals paid 61 percent.
These days, corporations are only footing 19 percent of the income tax bill, and we're paying 81 percent.
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5 comments:
Ultimately individuals pay all the taxes. When corporations "pay" taxes, it is their consumers, their shareholders, their owners, or their employees who actually bear the tax burden.
But Corporations are the job creators. We can't punish them with taxes.
19% ?? The way CEO's have been squealing lately (like stuck pigs), you'd think they were paying 60%...Even as a Republican, I am getting REALLY tired of wealthy individuals and corporations (like GE, at a real tax rate of just 7%!!) saying that they can't affor more taxes, when, in fact, they often pay very little ACTUAL taxes due to loopholes, deductions, credits, offsets, and the oft-used "tax havens", where they send their profits overseas and avoid taxes altogether. But we can't create JOBS, they say!!! I don't see any getting created now, except overseas ones, so the CEO's bonuses and stock options skyrocket....
This is what's wrong with this country's tax/debt issues!
The corportations should be paying the taxes, not the hard working souls of the declining middle class!
1236-The middle class doesn't pay their way in taxes either! The top 25% pay 85% of all federal taxes. The bottom 50%...0%. The gov't isn't bankrolled by the middle class, and never was. It's bankrolled by who the left is currently blaming for every problem in the world.
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