Today I found a breath of fresh air talking about a subject near and dear to my heart: taxes. Most of us don’t like taxes, of course, but this article helps us to understand what has changed in our recent history and even what we could do to start making taxes more fair.
Here is a brief excerpt from the article in today’s New York Times by James Livingston:
For most of the 1950s, corporate income at large companies was taxed at 52 percent, according to the nonpartisan Tax Policy Center. The federal government, meanwhile, collected about a third of its revenues from this source. Today, thanks largely to the “reforms” ushered in by President Ronald Reagan, the ostensible tax rate on corporate income is no higher than 35 percent — and the corporate-tax share of federal revenue has fallen to about 9 percent.
I highly encourage you to read it. Considering the political climate in Washington these days, I am sure it would be no cake walk to introduce (never mind pass) legislation to do what Livingston suggests, but the fact that there are so many incentives for corporations to short the American workforce is certainly something our legislators should care about.