>From somthing called Take The Rich Off Welfare, "In the 1950's, when the
corporate tax rate was 52% and corporations paid amost a third of all income
taxes...In the 1990's, when the corporate tax rate ranges between 15% and 39%
and corporations pay less than 10% of all income taxes...
Anyone familiar with the author; this maybe from United for a Fair Economy?
Sincerely, Tom
Doug Henwood wrote:
> Max Sawicky wrote:
>
> >There is very little change in burdens in the U.S. over the
> >past twenty-five years. The share and burden of the rich
> >has bounced around more than other groups, but not outside
> >a very narrow range.
> >
> >See "State of Working America" for details.
>
> Which I just did. You're right, Max, that the federal tax burden has
> changed very little for the bottom 80% of the distribution. According to
> table 2.10 in the forthcoming State of Working America, the poorest fifth
> of taxpayers (averge 1998 income: $8,652) saw a tax rise of $104 between
> 1977 and 1985 (based on 1998 incomes) and several tax cuts totaling $485
> between 1985 and 1998, a net decline of $381. Which isn't all that much in
> dollar terms, but translates into maybe the better part of a month's rent
> for people who don't have too many pennies to spare, and also represents a
> 48% cut in total federal tax liabilities. From the second to fourth
> quintiles, the changes in percentage terms are tiny indeed, and even in
> absolute dollar terms. But, oh, the high end. Between 1977 and 1985, the
> richest 1% (1998 average pretax income: $644,043) enjoyed a $97,250 tax cut
> (i.e., almost three times the average household's pretax income!) - partly
> offset by a $60,540 increase between 1985 and 1998, for a net cut of
> $36,710, or 14% of tax liabilities. That's not pocket change.
>
> >There is also
> >a new report from the Congressional Budget Office, free
> >on the web. Author is Frank Sammartino.
>
> It's at <ftp://ftp.cbo.gov/doc527/taxliab9599.pdf> (Acrobat version) or
> <http://www.cbo.gov/showdoc.cfm?index=527&sequence=0&from=1> (html version).
>
> Doug
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