U.S. corporate tax rate is not hurting corporate profits: U.S. corporate pre- and post-tax profit margin rate, 1947–2015
| Pre-tax profit margin | Post-tax profit margin | |
|---|---|---|
| 1947 | 17.5% | 8.7% |
| 1948 | 19.7% | 11.4% |
| 1949 | 18.2% | 11.3% |
| 1950 | 20.4% | 9.7% |
| 1951 | 20.2% | 8.3% |
| 1952 | 18.0% | 8.6% |
| 1953 | 17.0% | 7.7% |
| 1954 | 16.8% | 8.8% |
| 1955 | 19.2% | 10.2% |
| 1956 | 17.4% | 9.1% |
| 1957 | 16.3% | 8.6% |
| 1958 | 14.5% | 7.8% |
| 1959 | 16.8% | 9.1% |
| 1960 | 15.3% | 8.6% |
| 1961 | 15.3% | 8.6% |
| 1962 | 16.4% | 9.9% |
| 1963 | 17.2% | 10.5% |
| 1964 | 17.7% | 11.1% |
| 1965 | 18.7% | 12.0% |
| 1966 | 18.5% | 11.7% |
| 1967 | 16.8% | 10.8% |
| 1968 | 16.3% | 9.8% |
| 1969 | 14.1% | 8.1% |
| 1970 | 11.1% | 6.4% |
| 1971 | 12.2% | 7.4% |
| 1972 | 12.8% | 8.0% |
| 1973 | 12.7% | 7.4% |
| 1974 | 10.6% | 5.4% |
| 1975 | 11.5% | 6.9% |
| 1976 | 13.2% | 7.9% |
| 1977 | 13.5% | 8.2% |
| 1978 | 13.5% | 8.3% |
| 1979 | 12.0% | 7.1% |
| 1980 | 9.9% | 5.6% |
| 1981 | 10.6% | 6.9% |
| 1982 | 9.3% | 6.8% |
| 1983 | 10.5% | 7.5% |
| 1984 | 12.1% | 8.7% |
| 1985 | 11.4% | 8.4% |
| 1986 | 9.3% | 6.2% |
| 1987 | 9.8% | 6.3% |
| 1988 | 10.2% | 6.7% |
| 1989 | 9.1% | 5.7% |
| 1990 | 8.3% | 5.2% |
| 1991 | 8.3% | 5.5% |
| 1992 | 8.5% | 5.7% |
| 1993 | 9.6% | 6.5% |
| 1994 | 11.3% | 7.8% |
| 1995 | 11.8% | 8.3% |
| 1996 | 12.6% | 9.1% |
| 1997 | 12.9% | 9.4% |
| 1998 | 11.5% | 8.2% |
| 1999 | 10.6% | 7.2% |
| 2000 | 8.7% | 5.6% |
| 2001 | 7.0% | 4.9% |
| 2002 | 8.5% | 6.7% |
| 2003 | 10.2% | 7.9% |
| 2004 | 12.2% | 9.1% |
| 2005 | 13.3% | 9.2% |
| 2006 | 14.5% | 10.1% |
| 2007 | 12.7% | 8.6% |
| 2008 | 11.2% | 8.1% |
| 2009 | 10.5% | 7.9% |
| 2010 | 13.6% | 10.5% |
| 2011 | 13.7% | 10.7% |
| 2012 | 14.3% | 11.0% |
| 2013 | 14.9% | 11.5% |
| 2014 | 14.7% | 11.1% |
| 2015 | 13.9% | 10.4% |
Note: Figure depicts profit margins in the non-financial corporate sector.
Source: Adapted from Bivens (2015)