If everyone paid taxes

[IndependentlyPoor]

Government Taxes and Revenue Chart in United States 2000-2008 - Federal State Local

Kewl! Thanks. Yesterday, I spent some frustrating hours on the IRS site trying to tease out similar data.
Here is the chart you pointed me to, annotated with the relevant tax law changes. I included only federal individual and corporate taxes. I think this link will reproduce exactly what I am looking at:
Government Taxes and Revenue Chart in United States 1990-2008 - Federal State Local

and here is the same data, adjusted for constant 2008 dollars.


I believe the above data is too confounded with the effects of the internet bubble and the housing bubble to allow a definitive statement about tax rates and revenue.

Here is some more info on these tax acts if anybody is interested:
Omnibus Budget Reconciliation Act of 1990 - Wikipedia, the free encyclopedia

Omnibus Budget Reconciliation Act of 1993 - Wikipedia, the free encyclopedia

Taxpayer Relief Act of 1997 - Wikipedia, the free encyclopedia

Economic Growth and Tax Relief Reconciliation Act of 2001 - Wikipedia, the free encyclopedia

Jobs and Growth Tax Relief Reconciliation Act of 2003 - Wikipedia, the free encyclopedia

Just for kicks and grins, here are the tax revenues as a percentage of the GDP


Originally, I thought it would be interesting to figure out how capital gains tax revenue changed as the marginal rates were lowered, but haven't been able to find the appropriate data yet.

 

[IndependentlyPoor]

Since folks have been talking about corporate taxes lately, I though that I'd post this chart from the same website:
Government Taxes and Revenue Chart in United States 1950-2008 - Federal State Local
It shows the corporate income tax revenue as a percentage of the total income tax revenue since 1950.


And again, apropos of nothing, here is the total FIT revenue as a percentage of the GDP since 1950.

 

[Texas Proud]

Tryin' ta follow ya here TP......

You're sayin' that if the demand curve for a product is elastic and the producer tries to add a cost increase (tax in this case) to the price (raise the price), total revenue will decrease. I get that. So the producer absorbs some of the cost to lower the price (defacto paying part of the tax) and increase volume until total revenue = total cost on the incremental unit sold, thus maximizing profit.

Is that it? If the product has an elastic demand curve, the producer will not be able to pass the tax on to the customer without reducing total revenue and likely profits?

I think you're on to something there TP.......

Heck, it has been WAY to long for me to remember the terms... but yes... this is what I was trying to get across...

 

[laurence]

I believe it's been show a similar phenomenon goes on with the "employer paid" portion of social security and medicare. I agree a lot of (possibly) well intentioned efforts to have corporations pay their "fair share" has really led to hiding the true cost to those who really bear it, the individual employee/taxpayer.

 

[ERD50]

I believe it's been show a similar phenomenon goes on with the "employer paid" portion of social security and medicare. I agree a lot of (possibly) well intentioned efforts to have corporations pay their "fair share" has really led to hiding the true cost to those who really bear it, the individual employee/taxpayer.

What really get me is, it seems that most of the same people who would demand that we increase taxes on these 'big greedy corporations', are also totally in support of a 'progressive' FIT system. I'd love to see data on this, if anyone has a link to a survey or anything.

Yet, a corporate tax is a flat tax (regressive actually), as poorer people spend a higher % of their income on essentials, and corporate taxes affect all equally, as they are buried in the price of the product.

IME, if you question them on that paradox, they will scrunch up their face and change the subject. They have not thought it out. And yes, it bothers me that someone who has not thought out a position gets as much voting power as someone who has thought it out.

-ERD50