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.

View the underlying data on epi.org.