I haven't had the time to research this, but aren't there more people employed
by the Federal, State and City goverments, than  all of the Manufacturing
sector combined?

How does that compare to 1952?  Since the Government doesn't pay taxes...

-Craig


--- Tim Cummings <[log in to unmask]> wrote:
> <snip>
> Corporate income taxes in fiscal 2003 accounted for 7.4% of all federal tax
> receipts, down from a post-war peak of 32% in 1952. With one exception
> (1983),
> last year's percentage is the lowest recorded since data was first published
> in 1934.
>
> ...pay nothing close to the stated federal tax rate of 35%...
>
> In 1985, Berkshire paid $132 million in federal income taxes, and all
> corporations paid $61 billion. The comparable amounts in 1995 were $286
> million and
> $157 billion respectively. And, as mentioned, we will pay about $3.3 billion
> for 2003, a year when all corporations paid $132 billion. We hope our taxes
> continue to rise in the future -- it will mean we are prospering but we also
> hope
> that the rest of Corporate America antes up along with us.
> <snip>
>
> Let's do the math:
>
>  Is $132 million > $3.3 Billion ?
>  Is $286 million > $3.3 Billion ?
>
> Seems to me that lowering the tax rates for Corporate America caused their
> businesses
> to grow and generate more taxes!
>
> Under the old tax scheme, tax revenues would have stagnated at the growth
> rate
> of 216% every 10 years.  Instead, under the Bush Administration tax plan,
> tax revenues
> grew by 1153%.
>
> They may have paid a lower percentage rate in taxes, but they did pay much
> more in real
> dollars.
>
> Tim
>
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