Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Is it unusual that 88% of the US federal revenue is from individual income taxes?

IIRC US corporate income tax rates are fairly high compared to the rest of the world (although maybe there's more deductions and other shenanigans)



The economist has a nice chart on this. The US has a lower share of taxes paid by corporations relative to other sources than our peers.

https://archive.is/ND3cQ


At 24.6%, the US had an effective average corporate tax rate somewhat in the middle of the pack in 2019. In 2017, at 37.5%, it was the second highest in the world, so which year you look at is very important.

It's also important to realize that a large portion (~10%) of individual income taxes are actually from pass-through business income.

https://stats.oecd.org/Index.aspx?DataSetCode=CTS_ETR


Isn't 2017 an outlier? Didn't Trump pass a one time law allowing for repatriation of profits at a lower tax rate? That's not sustainable.


TCJA took effect in 2018.


Fairly high? I don't think so. Compare the tax rates to european countries.


It looks like most countries in Europe have lower corporate tax rates than the US (https://en.wikipedia.org/wiki/Tax_rates_in_Europe)




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: