Oddball
Unobtanium Member
That's FEDERAL TAXES, which are only one part of the overall tax bite on people and businesses, you damned ignoramus.No, we didn't have higher taxes in the 50s, just higher federal rates....Property taxes were vastly lower and state income, sales and other "fees" were either non-existent or a pittance compared to today...Moreover, the costs of compliance with tax and other regs has gone through the roof.
But all of that is a diversion from the fact that what you know about economics and business accounting couldn't fill out both sides of a matchbook.
I do so love it when you guys make shit up.
"The effective corporate tax rate that is, the percentage of corporate profits that is paid in federal corporate income taxes has followed a similar pattern. During the 1990s, corporations as a group paid an average of 25.3 percent of their profits in federal corporate income taxes, according to new Congressional Research Service estimates. By contrast, they paid more than 49 percent in the 1950s, 38 percent in the 1960s, and 33 percent in the 1970s."
The Decline of Corporate Income Tax Revenues — Center on Budget and Policy Priorities
I would point out that the drop in corp taxes corresponds to the rise in inequality, but I'm sure you'll just ignore that.