It is amazing that corporate taxes are less than half of what they were prior to 1970 as a percentage of GDP, in spite of "the highest marginal corporate tax in the developed world." Likewise, federal income taxes are 25% below the historical average of nearly 8%. When did we have a budget surplus, when they were at 10% of GDP. How will that work out for the "No revenue increase, but pass the balanced budget amendment" crowd in the Republican Study Committee (i.e. the numerically challenged)?
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