Corporate Taxes Are Too Low

This is a chart the congressional Republicans would rather you not see. Between 1946 and 1970, corporate taxes ranged between 3% and 6% of the nation's Gross Domestic Product (GDP). That was a period of time when the economy was healthy and the growth in productivity was shared by all sectors of society. Since 1970, the share of corporate taxes (in relation to GDP) has remained below 3% -- and during that period wages have stagnated as the rich started to hoard all of the productivity gains (with the result being the buying power of current worker wages being far below the level of 1970).

Currently the corporate taxes only make up about 1% of this country's GDP, while corporations make record-breaking profits. And yet, the Republicans would have us believe that the corporations pay too much in taxes. They want to give corporations massive new tax breaks (and some of them would completely eliminate corporate taxes). That is an insanely unfair economic policy.