Taxing Businesses: Tax Receipts


Part 5 of a series about Taxing Businesses

Although profits and therefore corporate tax receipts varied with the business cycle, the corporate tax receipts generally declined from the 1950s to late 1970s, falling to less than 3% of GDP in the bad economy due to inflation and oil shocks.  However Federal tax receipts collected from corporate tax code never returned to previous values when the economy recovered because the number of c corporations declined and the number of pass-throughs increased. With the increase in pass-throughs one would expect the receipts from individual income tax returns to increase but they didn’t.

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Joel Greenblatt Owned Hedge Fund On Why Value Investing Isn’t Working Now

Joel GreenblattAcacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more Top five holdings Acacia's top five holdings accounted for Read More

Data is from the Office of Management and Budget, Historical Tables, Table 2.3

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