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Corporate Tax Revenues At Historic Lows Even Before Proposed Costly New Tax Breaks, Rev. 10/24/03 (758 words) |
 | It shows that corporate tax revenues have fallen to historically low levels as a share of total federal revenues and of the economy. |
| Corporate tax revenues are at historically low levels and are projected to remain low for the coming decade. |
| Beyond a weak economy and new tax breaks, a third reason for the decline in corporate tax revenues is corporations’ increasingly aggressive use of tax avoidance strategies, including the sheltering of corporate profits overseas. |
| The Decline of Corporate Income Tax Revenues, Rev. 10/24/03 (5378 words) |
| The share that corporate tax revenues comprise of total federal tax revenues also has collapsed, falling from an average of 28 percent of federal revenues in the 1950s and 21 percent in the 1960s to an average of about 10 percent since the 1980s. |
| Corporate income tax revenues have declined not only in terms of the share of federal taxes that they comprise, but also when they are measured as a share of the economy (see Figure 2). |
| Some argue that the weakness in corporate income tax revenues is, in part, a reflection of the decline in the number of C corporations, which peaked at 2.6 million in 1986. |
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