Truthout
Jasmine Tucker
04/18/2016
The old saying goes that there are two things certain in life: death and taxes. But do taxes actually apply to the rich and powerful?
US corporations enjoy US infrastructure, talent and other resources, but they're not giving back financially. Over the last 50 years, the corporate share of federal revenues has dropped from a high of almost 40 percent in 1943 to less than 9 percent today. And while corporations pay less, ordinary Americans are called upon to make up the difference. Individual income taxes will account for nearly 49 percent of all federal revenues in 2016. If you add payroll taxes, individual taxes will make up more than 80 percent of US government revenues this year.
