Next time some spoiled brat socialist whines and gripes about how corporations are evil and that they don't pay their fair share, I'm going to ask them how many social programs $71.8 billion would finance.
Well that's the irony, the US is supposedly this bastion of capitalism, but we have the highest corporate taxes in the world, bar Japan (made a post about it somewhere).
To answer your question though, yes corporate taxes have been accounting for less and less of the overall tax revenue for the US (as well the world). I think it's down to 10% total federal revenues, but don't quote me.
Additionally I would love to see how cost effective different taxes are, but haven't seen any data on it.
I would like to but the data is somewhat hard to come by. The OECD doesn't have a lot of data on the Baltics. Not to say the data doesn't exist, it does, I just don't have the time to track it down.
I will say that a theory of mine has been that the women of the former soviet bloc would probably be the best women in the world to date because;
1. They hate communism and like capitalism 2. Probably are educated 3. Aren't as spoiled as American women in terms of wealth and being brainwashed by soap operas and those damn chick magazines.
Yes, I could see it now, Natasha the chemical engineer that likes to play video games and loves making money...in lingerie of course.
You might want to consider tax incidence - when everything is said-and-done, precious little of any tax, even the corporate tax, is actually "paid for" by corporations.
I'm sure you're aware of this - but it's always a good point to toss into the ring. Most studies indicate that somewhere near 70% of the tax burden falls upon the public - in their capacity as workers or as stakeholders in the corporations who allegedly "pay" the taxes.
Smaller dividends, lower wages, higher prices - these do not bode well for individuals.
4 comments:
Well that's the irony, the US is supposedly this bastion of capitalism, but we have the highest corporate taxes in the world, bar Japan (made a post about it somewhere).
To answer your question though, yes corporate taxes have been accounting for less and less of the overall tax revenue for the US (as well the world). I think it's down to 10% total federal revenues, but don't quote me.
Additionally I would love to see how cost effective different taxes are, but haven't seen any data on it.
Cap'n, you should do a post on Estonia (as mentioned by previous commenter). It's exactly the antithesis of Venezuela in policy and results.
I would like to but the data is somewhat hard to come by. The OECD doesn't have a lot of data on the Baltics. Not to say the data doesn't exist, it does, I just don't have the time to track it down.
I will say that a theory of mine has been that the women of the former soviet bloc would probably be the best women in the world to date because;
1. They hate communism and like capitalism
2. Probably are educated
3. Aren't as spoiled as American women in terms of wealth and being brainwashed by soap operas and those damn chick magazines.
Yes, I could see it now, Natasha the chemical engineer that likes to play video games and loves making money...in lingerie of course.
You might want to consider tax incidence - when everything is said-and-done, precious little of any tax, even the corporate tax, is actually "paid for" by corporations.
I'm sure you're aware of this - but it's always a good point to toss into the ring. Most studies indicate that somewhere near 70% of the tax burden falls upon the public - in their capacity as workers or as stakeholders in the corporations who allegedly "pay" the taxes.
Smaller dividends, lower wages, higher prices - these do not bode well for individuals.
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