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1 Paul G. Merski, Corporate Tax Burden Rises As Profits Fall 1 (1991)

handle is hein.taxfoundation/srexz0001 and id is 1 raw text is: Corporate Tax Burden Rises As Profits Fall by Paul G. Merski As the federal deficit approaches a record level of over $300 billion and pres- sures build for increased spending on new and existing programs, the govern- ment will continue its drive for more revenues. Corporations are often targeted and charged with evading their fair share of the nation's tax burden. Stale as the theme of undertaxed corporations is, its repetition has given it a life of its own despite convincing evidence to the con- trary. In fact, corporations carry a heavy taxburden and provide a large and grow- ing percentage of the total tax revenues Figure 1: State and local corporate income taxes have been increasing rapidly, and corporate payroll taxes are now the largest part of the busi- ness tax burden. Over the past decade, the combi- nation of these increases with federal income taxes have caused a sharp rise in the overall corporate tax burden. Paul Merski is Director of Fiscal Affairs at the Tax Foundation. Figure 1 Corporate Income and Payroll Taxes Relative to Corporate Profits 1980-1991 Percent 100 - 90 80 - 70 60 50 40 30 Payroll Taxes 20 10 '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 Source: Tax Foundation (see table 7 on page 8).

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