Corporate Tax Revenue Datapoint of the Day

John Cassidy:

From 2004 to 2006, corporate tax receipts grew at an annual rate of more

than 25 percent. Last year, they totaled $354 billion, compared with just

$132 billion in 2003.

By my calculations, an increase from $132 billion to $354 billion over three

years would constitute an average growth rate of much more than 25% per year:

38.9%, to be precise. I assume the 25% number is the minimum for any given year.

But I have to say I’m surprised at this – have companies really become

that bad at minimizing their taxes? I’m sure their profits didn’t rise as fast

as their tax bills did.

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