The 1 Chart That Reveals Just How Grossly Unfair The U.S. Tax System Has Become
Mark Gongloff
huffingtonpost.com
05/22/2013 Updated: 05/23/2013
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Notice the beige stripe that is shrinking steadily? That stripe is the percentage corporate taxes contribute to total federal revenue. And notice the olive-green stripe that has swollen to be larger than the beige stripe used to be? That is the contribution of payroll taxes to federal revenue.
What this shows is how dramatically corporate tax contributions have shrunk in the past several decades, and how our personal taxes have risen to fill the gap. Payroll taxes now make up 35 percent of all federal government tax receipts, up from 11 percent in 1950. Corporate income taxes, meanwhile, now make up less than 10 percent of federal revenue, down from about 26 percent in 1950...
Assuming companies pay half of the payroll taxes in this chart, the total tax burden for individual Americans is ...about 63 percent of total federal revenue...that is up from about 45 percent in 1950.
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