President Barack Obama Message Board - Msg: 25666148

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Politics : President Barack Obama

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To: mindmeld who wrote (54829)	5/23/2009 6:00:07 PM
From: Wharf Rat	Read Replies (1) of 134056

I'm not sure corporations paying less taxes than I did is very helpful, either. Tax them at Ike's rate. We were prosperous when we did that. GM owned the world. Cutting their taxes has been bad for them. LOL Study says most corporations pay no U.S. income taxes reuters.com Corporate Tax Revenues at Historic Lows Even Before Proposed Costly New Tax Breaks A new Center report, The Decline of Corporate Income Tax Revenues, provides context for the debate over corporate tax-cut legislation now before Congress. It shows that corporate tax revenues have fallen to historically low levels as a share of total federal revenues and of the economy. Despite the weakening of corporate tax revenues, and despite the fact that the Congressional Budget Office and other organizations*now project very large federal budget deficits over the coming decade and beyond, Congress appears poised to shower costly new tax breaks on corporations. •Corporate tax revenues are at historically low levels and are projected to remainlow for the coming decade. Preliminary CBO estimates show that in 2003, corporate income tax revenues were smaller, both as a share of the Gross Domestic Product and as a share of all federal tax receipts, than in any year since the 1930s except for 1983. Total corporate tax revenues fell by more than one-third between 2000 and 2003. 74.125.155.132 == Revenue Act of 1964 Individual Tax Rates. Reduced individual tax rates (top rate dropped from 91% to 70%). Corporate Tax Rates. Reduced top corporate tax rate from 52% to 48%. taxpolicycenter.org

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