Date: 2024-04-28 Page is: DBtxt003.php txt00022434
TAXATION
US CORPORATE TAXATION
Taxation is a key financial flow for a healthy socio-enviro-economic system ... Some History of US Corporate Taxes (via Mother Jones)
US CORPORATE TAXATION
Taxation is a key financial flow for a healthy socio-enviro-economic system ... Some History of US Corporate Taxes (via Mother Jones)
... and this was before the fat cats got really wealthy !!!!!!
Peter Burgess COMMENTARY
The big news ... economic news ... over the past 40 years has been the amazing wealth accumulation by the wealthiest people on the planet ... and, for the same period of time, the total aquiescence of political and social leadership to this situation. To the extent that it is not aquiescence, then it is ineffectiveness. In any event, over the past forty years ... about two generations ... inequality has been getting more and more pronounced and nothing has stopped it.
The media is a big part of the problem together with social media and the weaponization of misinformation for political purposes. The First Amendment in the United States protects the freedom to say anything ... but that does not mean that spreading misinformation should be acceptable and worse, actually encouraged by people with power and influence.
The data that is behind these graphics tells a story that has been glossed over for years by serious media commentators. I find this very disappointing and very dangerous.
Peter Burgess
First off, here are corporate profits and tax rates since the Reagan era:
- Tax rates have been going down, down, down.
- Profits have been going up, up, up.
- You can probably guess what this means for owners of capital: they’ve been doing really, really well. Indeed, net dividend payouts to shareholders are up more than 400 percent.
• And American tax rates are really low compared to other countries:
Since 1980, obviously, corporations have been doing great. So has this trickled down to the common man? Let’s check out how the middle class is doing:
• Essentially, a flat line for 40 years.
CONCLUSION
So there you have it. Over the past four decades,
• corporate profits have doubled;
• tax rates have been cut in half;
• dividend payouts have gone up 400 percent; and
• the household income of the middle class has gone up a whopping 20 percent (sarcasm).
But don’t worry. This time trickle-down economics will work. Believe me. (more sarcasm).
US-Corporate-Taxation-as-percent-of-GDP
US corporate taxation has been low since the 1980s. While profits have increased:
• the US social safety net has been degraded,
• workers' wages have flatlined, and
• household wealth in the US has declined catastrophically for the majority of people.
ALSO
• US Corporate Taxation is NOT excessively high;
• There is massive political rhetoric that spreads misinformation.
• More taxation is essential to have a fair sustainable socio-enviro-economic siutation.