Executive Summary
As the federal deficit approaches a record level of over $300 billion and pressures build for increased spending on new and existing programs, the government will continue its drive for more revenues. Corporations are often targeted and charged with evading their “fair share” of the nation’s taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. burden. Stale as the theme of under taxed corporations is, its repetition has given it a life of its own despite convincing evidence to the contrary. In fact, corporations carry a heavy tax burden and provide a large and growing percentage of the total tax revenues collected by all levels of government.
The object of this report is to present the current level of the corporate tax burden and examine why and how it has changed since 1980. A consistent time frame of 1980 to 1991 is used throughout the study.
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