The corporate income tax in two charts

Felix Salmon posts a chart measuring corporate income tax as a share of corporate profits. “It’s the main thing you should bear in mind when people start saying that the U.S. corporate income tax is too high,” he writes.

And just so you know there’s no funny business going on, he also posted a chart of the corporate income tax as a share of GDP:

“Once upon a time,” writes Salmon, “the corporate income tax generated a significant share of tax revenues; now, it’s bumping along in the 2%-of-GDP range. Yes, the marginal rate of corporate income tax is high, at 35%. But U.S. companies are extremely good at not paying that.” Allan Sloan has more.