Corporate Taxes in US are Way Too High!

GE paid no taxes; Goldman Sachs paid $14 million last year. The GAO reported in 2008 that “two out of every three United States corporations paid no federal income taxes from 1998 through 2005.”...

Corporate Taxes as a Percentage of Federal Revenue

1955 . . . 27.3%
2010 . . . 8.9%

Corporate Taxes as a Percentage of GDP

1955 . . . 4.3%
2010 . . . 1.3%

Individual Income/Payrolls as a Percentage of Federal Revenue

1955 . . . 58.0%
2010 . . . 81.5%

Anyone who is serious about closing the US deficit should consider the changes in what corporations pay in taxes and the rise of the deficit.
---Ritholz