It Is Way Past Time To Significantly Raise Corporate Tax Rates...
Good morning. What’s the No. 1 reason taxes on the very wealthy have declined? The fall in corporate taxes The little secret the cons and republicans have attemped to keep from Americans since the 1980's. It is well past time that cons and republicans are held responsible and accountable for the present egregious income inequality. The article... ‘A dirty little secret’ The New York Times - The main cause of the radical decline in tax rates for very wealthy Americans over the past 75 years isn’t the one that many people would guess. It’s not about lower income taxes (though they certainly play a role), and it’s not about lower estate taxes (though they matter too). The biggest tax boon for the wealthy has been the sharp fall in the corporate tax rate . In the 1950s, ’60s and ’70s, many corporations paid about half of their profits to the federal government. The money helped pay for the U.S. military and for investments in roads, bridges, schools, scientific research and mo...