imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles

The Great Tax-Cut Experiment and Corporate Taxes as % of Profits

by Gerald Friedman and Salvatore Babones Saturday, Feb. 23, 2013 at 11:12 AM
marc1seed@yahoo.com

Comparisons with Other Countries: Americans pay a smaller proportion of total income in taxes than do people in any other advanced capitalist economy. as in Western European countries.

← Older posts
The Great Tax-Cut Experiment
Posted on February 21, 2013 by Marc
to read Gerald Friedman’s “The Great Tax-Cut Experiment” from Dollars and Sense, January/February 2013, click on

http://www.dollarsandsense.org/archives/2013/0113friedman.html

Comparisons with Other Countries: Americans pay a smaller proportion of total income in taxes than do people in any other advanced capitalist economy. As recently as the late 1960s, taxes accounted for as high a share of national income in the United States as in Western European countries. After decades of tax cuts, however, the United States now stands out for its low taxes and small government sector. (See Figure 2.)
Figure 2: Tax Revenue as a Percentage of GDP, 2008

Higher Growth When Taxes Are Higher: On average, the economy has grown faster during presidential administrations with higher tax rates on the richest Americans. Growth was unusually slow during George W. Bush’s two terms (Bush II) and during Obama’s first term, when the Bush tax cuts remained in effect. On average, every 10 percentage-point rise in the average tax rate on the richest has been associated with an increase in annual GDP growth of almost one percentage point. (See Figure 3.)

Declining Tax Rates Haven’t Stimulated Investment: Cutting taxes on the richest Americans has not led them to invest more in plant and equipment. Over the past 50 years, as tax rates have declined, there has been no increase in investment spending as a percentage of GDP. (The flat trend line shows that changes in the highest marginal income-tax rate have not affected investment much, one way or the other.) Instead, the investment share of the economy has been determined by other factors, such as aggregate demand, rather than tax policy. (See Figure 4.)

Lower Taxes, Slower GDP Growth: Despite lower and declining tax rates, especially on the rich, the United States has had slower productivity growth over the last several decades than other advanced economies. Overall, lower taxes are associated with slower growth in GDP per hour worked. A 10 percentage point increase in taxes as a share of GDP is associated with an increase in the productivity growth rate of 0.2 percentage points. (See Figure 5.)

http://www.dollarsandsense.org/archives/2013/0113friedman.html

GERALD FRIEDMAN is a professor of economics at the University of Massachusetts-Amherst.
SOURCES: Tom Petska and Mike Strudler, “Income, Taxes, and Tax Progressivity: An Examination of Recent Trends in the Distribution of Individual Income and Taxes” (Statistics of Income Division, Internal Revenue Service, 1997); Thomas Hungerford, “Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945” (Congressional Research Service, 2012); Economic Report of the President, 2012; Bureau of Economic Analysis (bea.gov); Organization of Economic Cooperation and Development, OECD STAT.

RELATED LINK:

Corporate Taxes as % of Profits (1950-2010)

http://inequality.org/context-corporate-profit-reports/

Posted in 2011 | Leave a comment
U.S. Corporate Tax Rate Plunges To 40 Year Low Of 12.1 Percent
Posted on February 16, 2013 by Marc
By Pat Garofalo on Feb 3, 2012 at 11:20 am

In recent decades, corporate tax revenue has plunged, falling from about 6 percent of gross domestic product in the 1950?s to less than 2 percent today, due to a proliferation of corporate tax breaks and the use of offshore tax havens. According to the Congressional Budget Office, in fact, corporate tax receipts as a share of corporate profits have hit their lowest point in 40 years:

Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.

Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That’s the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.

http://thinkprogress.org/economy/2012/02/03/418171/corporate-taxes-40-year-low/

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

The Eagle Rock Peace Vigil Marks 15 Years N27 11:23AM

12/2-3 LA Binational Conference To Cancel NAFTA and Unite Workers Of Mexico and the US N27 3:44AM

Winter 2017 National Immigrant Solidarity Network Monthly News Alert! N26 9:22PM

Nuclear Shutdown News November 2017 N26 4:23PM

Report Back on November 18th Counter Demonstration Against Anti-Muslim March N20 10:57AM

Report Back on November 18th Counter Demonstration Against Anti-Muslim March N19 7:12PM

National US Gov as wellas EPA slow to act on Abandoned uranium Mines Cleanup in Southwest N15 10:50AM

OUR HOUSE Grief Support Center Hosts 9th Annual Comedy Fundraiser N14 10:47AM

BUSTED: Watch LAPD cops plant drugs in black suspect’s wallet – unaware body cams were on N10 5:32PM

lapd shootings 1998 - 2015 N06 11:21PM

“Oh Say Can You See” How the LAPD Singing the National Anthem Cost the Dodgers WS Game 7? N03 7:30AM

Car drives into immigration protesters outside Rep. Ed Royce's office in Brea N02 2:06PM

PACIFICA RADIO BOARD SECRETLY OK'S BANKRUPTCY FILING & SEEKS NY SIGNAL SWAP O25 4:49PM

LAUSD, Privatization, Charters And The Fight To Defend Public Education Education Conferen O04 12:10PM

Afghan Women Read RAWA.org founded 1977 S27 9:42PM

[France] The State Attacks Indymedia-Grenoble and Indymedia-Nantes… Solidarity! S25 5:18PM

Segregation in the City of Angels: A 1939 Map of Housing Inequality in L.A. A15 7:44PM

Justice Dept. seeking info, IDs on 1.3M visitors to protest website DisruptJ20.org A15 1:04PM

San Francisco Rally Protests Hate Crimes in Charlottesville A14 5:38PM

New Google algorithm restricts access to left-wing, progressive web sites A02 1:52PM

Tracking Twenty Years of Stockton Killings by Law Enforcement A02 1:27PM

Garcetti Cronyism - Why and How to Ignore Your LA Dog License A01 5:05PM

Nation's Worst Meltdown Was In LA J31 4:54PM

As RV towing resumes in LA, officials say program won't 'target homeless' J31 1:15PM

Class War on the Waterfront: Longshore Workers Under Attack J21 10:18AM

Limits to Growth Published Forty Years Ago J18 5:15AM

More Local News...

Other/Breaking News

Paraphysique de la prohibition D16 2:14AM

Philippines: We condemn extension of Martial Law in Mindanao D14 9:37PM

The Shortwave Report 12/15/17 Listen Globally! D14 4:27PM

What the State Can Do D14 5:50AM

November 2017 Honduras Pre-Coup Repeat Update: Part 1 D14 5:23AM

Le système, ses agents, ses exécutants D13 11:49PM

Police problem officers D12 11:13AM

Masturbatorium de capitalisation D11 10:15PM

Palestinians, Beware Jewish Days of Rage, Hanukkah is Coming to Israel! D11 5:28PM

Asian Superstar's Book Finding Julia, Based on the Movie, Goes on Sale D11 11:16AM

I am the victim of murder for hire and need help to file a police report D11 12:29AM

Modus operandi de l'apocope D10 10:04PM

Archbishop and Evangelical Leader Tell Congress to Protect Puerto Rico in Tax Plans D08 9:51AM

Fbi is Gestapo D07 6:12PM

The Shortwave Report 12/08/17 Listen Globally! D07 5:10PM

Paraphysique de l'argutie D06 10:18PM

Holiday Tips for Grievers D06 1:27PM

Stand Against Reem's. Stand Against hate. Stand Against Violence D06 8:44AM

Base Erosion and Profit Shifting (BEPS) D06 7:53AM

Philippines - Why there is nothing Revolutionary about the call for a "Revolutionary Govt" D06 2:04AM

Historicisme d'hybridation D04 10:08PM

Real filthy fbi D03 7:30PM

People in Uproar in West Virginia-US Public lands Hearings 2017 D03 10:42AM

Le capital ou la société des inégalités D03 12:11AM

Stop Trump's tax plan D02 3:10PM

Government Regimes Are On A Global Kill Spree D01 8:29PM

Global High Crimes By Government D01 7:47PM

The Right to the City and the Greed of the Rich D01 3:32AM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy