Yes, let's make America great again.
America used to tax
differently.
In 1952, corporations paid 32% of the federal tab.
Today, less than 10%.
The shortfall did not vanish. It was reassigned.
YEAR
1958
WHO PAYS THE FEDERAL TAB
Share of federal revenue by source
TOP INCOME RATE
91%
TOP CORPORATE RATE
52%
CORP SHARE OF REVENUE
25%
DEBT / GDP
58.1%
If corporations today paid the same share of the federal tab as in 1958,
the average household's payroll taxes could be
$5,994 lower per year.
More than the average household spends on health insurance deductibles.
A top income rate higher than any developed country's today.
What about a paycheck?
Enter an annual income.
Federal income tax only. Single filer, standard deduction. All figures in today's dollars.
$