Monday, May 08, 2006
The Bush administration: Bane of the evil corporations
Here's a factoid you won't read in the New York Times: Corporate income taxes hit 2.3% of GDP last year, their highest level as a proportion of the economy since the Carter administration.
3 Comments:
By 
Dylan, at
Tue May 09, 12:06:00 AM:
Why not? It's just an unavoidable result of a higher proportion of GDP going to corporate profits than ever before. You don't think that is a story they want to cover?
Look, I think the corporate income tax should be abolished, but the fact that Lee Raymond's tax bill will probably go much higher than it has ever been this year doesn't make him a saint. This is a silly rebuttal.
By TigerHawk, at
Tue May 09, 06:32:00 AM:
I wasn't really assigning a morality to it -- just pointing out that corporations are paying a lot of taxes. As for the greater profitability of U.S. corporations, so what? Why isn't that a sign of ever greater efficiency? That's good, at least in the abstract.
By ScurvyOaks, at
Tue May 09, 02:49:00 PM:
This is probably due in large part to the commendable and effective efforts of Congress and the IRS to shut down tax shelters.
