1. Default Section

* 1. Should we consider a Corporate Windfall Profits Tax in order to balance the U.S. federal budget? In 1965, even after Kennedy's historic tax cuts, corporate taxes made up 21.8%(1) of federal revenues, the marginal corporate income tax rate was 70%(2) and unemployment was at 4.5%(3). But as of 2007 corporations slashed their share down to 14.4% of federal revenues while shoving an additional 4% of the burden on individual tax payers. Currently the marginal corporate income tax rate is 35%, and unemployment hovers around 10%.

Check it out yourself:
(1) Federal burden sharing by sector:
www.whitehouse.gov/omb/Budget/historicals , Office of Management and Budget Table 2.2

(2) Marginal federal income tax rates: www.wikipedia.org/wiki/Income_tax_in_the_United_States for marginal tax rates,

(3) Unemployment history: www.gpoaccess.gov/eop/tables10.html , Table B-42 Civilian Unemployment Rates 1962-2009

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