Figure F
The U.S. economy is not suffering from 'too high' corporate taxes: After-tax corporate profits versus corporate tax revenue, as a share of GDP, 1952–2015
| Fiscal year | Corporate income tax revenue | After-tax corporate profits |
|---|---|---|
| 1952 | 5.9% | 5.5% |
| 1953 | 5.6% | 5.1% |
| 1954 | 5.4% | 5.6% |
| 1955 | 4.4% | 6.6% |
| 1956 | 4.8% | 6.2% |
| 1957 | 4.6% | 5.8% |
| 1958 | 4.2% | 5.2% |
| 1959 | 3.4% | 6.1% |
| 1960 | 4.0% | 5.9% |
| 1961 | 3.8% | 5.9% |
| 1962 | 3.5% | 6.6% |
| 1963 | 3.5% | 6.9% |
| 1964 | 3.5% | 7.2% |
| 1965 | 3.6% | 7.8% |
| 1966 | 3.8% | 7.6% |
| 1967 | 4.1% | 7.1% |
| 1968 | 3.2% | 6.6% |
| 1969 | 3.7% | 5.7% |
| 1970 | 3.1% | 4.8% |
| 1971 | 2.4% | 5.4% |
| 1972 | 2.6% | 5.8% |
| 1973 | 2.7% | 5.8% |
| 1974 | 2.6% | 4.7% |
| 1975 | 2.5% | 5.2% |
| 1976 | 2.3% | 5.8% |
| 1977 | 2.7% | 6.3% |
| 1978 | 2.6% | 6.5% |
| 1979 | 2.6% | 6.0% |
| 1980 | 2.3% | 4.8% |
| 1981 | 1.9% | 5.1% |
| 1982 | 1.5% | 4.9% |
| 1983 | 1.0% | 5.5% |
| 1984 | 1.4% | 5.9% |
| 1985 | 1.4% | 5.9% |
| 1986 | 1.4% | 4.7% |
| 1987 | 1.8% | 4.8% |
| 1988 | 1.8% | 5.2% |
| 1989 | 1.9% | 4.7% |
| 1990 | 1.6% | 4.5% |
| 1991 | 1.6% | 5.1% |
| 1992 | 1.6% | 5.0% |
| 1993 | 1.7% | 5.1% |
| 1994 | 2.0% | 5.9% |
| 1995 | 2.1% | 6.3% |
| 1996 | 2.2% | 6.8% |
| 1997 | 2.1% | 7.2% |
| 1998 | 2.1% | 6.1% |
| 1999 | 1.9% | 5.9% |
| 2000 | 2.0% | 5.0% |
| 2001 | 1.4% | 5.2% |
| 2002 | 1.4% | 6.5% |
| 2003 | 1.2% | 7.1% |
| 2004 | 1.6% | 8.0% |
| 2005 | 2.2% | 8.1% |
| 2006 | 2.6% | 8.5% |
| 2007 | 2.6% | 7.5% |
| 2008 | 2.1% | 6.6% |
| 2009 | 1.0% | 7.8% |
| 2010 | 1.3% | 9.2% |
| 2011 | 1.2% | 9.3% |
| 2012 | 1.5% | 9.6% |
| 2013 | 1.6% | 9.4% |
| 2014 | 1.9% | 9.3% |
| 2015 | 1.9% | 8.5% |
Source: Adapted from Josh Bivens and Hunter Blair, ‘Competitive’ Distractions: Cutting Corporate Tax Rates Will Not Create Jobs or Boost Incomes for the Vast Majority of American Families, Economic Policy Institute, May 9, 2017.
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