A history of corporate taxation

Anybody that thinks our corporate taxes are too high should look at a chart of corporate taxes as a percentage of GDP since World War II, and it’s come down from 4 percent of GDP to 2 percent of GDP, while many other forms of taxes have, obviously, increased. And American business earnings on net tangible assets, which is the way to measure profitability overall, you know, it’s basically the envy of the world.… And our tax rates now for corporations are far lower than when Charlie and I were operating. And American business actually was doing pretty good then.