The U.S. economy is not suffering from ‘too high’ corporate taxes

From the Economic Policy Institute

In the recent tax debate, proponents of corporate tax cuts once again trotted out the myth that taxes on American corporations are excessive and are responsible for recent slow economic growth. These proponents claim that cutting corporate tax rates will encourage companies to make productivity-boosting investments that would increase wages. We’ve noted the many ways this claim fails when tested against real-world evidence.

But the simplest rebuttal to this claim is this graph, which shows that corporate taxes as a share of the U.S. economy have been extraordinarily low in recent years, even as corporate profits have been historically high. At a time when ginned-up hysteria over federal budget deficits is used to attack crucial social insurance and income support programs like Social Security, Medicare, and nutrition assistance, it is odd that we’d ask even less of corporations when it comes to collecting taxes.

Posted In: Allied Approaches

Union Matters

He Gets the Bucks, We Get All the Deadly Bangs

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

National Rifle Association chief Wayne LaPierre has had better weeks. First came the horrific early August slaughters in California, Texas, and Ohio that left dozens dead, murders that elevated public pressure on the NRA’s hardline against even the mildest of moves against gun violence. Then came revelations that LaPierre — whose labors on behalf of the nonprofit NRA have made him a millionaire many times over — last year planned to have his gun lobby group bankroll a 10,000-square-foot luxury manse near Dallas for his personal use. In response, LaPierre had his flacks charge that the NRA’s former ad agency had done the scheming to buy the mansion. The ad agency called that assertion “patently false” and related that LaPierre had sought the agency’s involvement in the scheme, a request the agency rejected. The mansion scandal, notes the Washington Post, comes as the NRA is already “contending with the fallout from allegations of lavish spending by top executives.”

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Corruption Coordinates

Corruption Coordinates