"In 1952, the corporate income tax accounted for about 32 percent of all federal tax revenue. Today, despite record-breaking profits, corporate taxes bring in just 11 percent." The Nation magazine
Right wingers keep repeating that the "US has the highest corporate income tax rate in the industrialized world," yet somehow corporations pay only 1/3 of the taxes they used to pay. All of us are paying the price, but most critically our educations system and people who are having a hard time are having to pay for the free ride being given to the rich, who own the overwhelming majority of corporate stock,.
President Obama has submitted and Democrats have voted for budgets that have cut federal spending each year Obama's been in office, and have reduced taxes on corporations and businesses.
Meanwhile, wealth and income inequality are worse than they were in the so called "Gilded Age" of the early 20th century and keep getting worse, and part of the reason has to be that we're paying the taxes the rich used to pay.
Neither does it help that all the"record-breaking profits" being hauled in by the rich go only to the rich, as even the Wall Street Journal admits, while wages and living standards for the rest of us stagnate and in some cases have even declined.
The trade agreement called the TPP, Trans Pacific Partnership, that the president and many Democrats want to rush through with no meaningful debate, will only make things worse, and that's not really the worst of the TPP. It will enshrine into US and international law many provisions that give corporations more power over governments than they already have, and over what we can say on the internet, and that's why it's being negotiated in secret.
Everyone should contact their elected officials and demand they oppose the TPP, and start making the rich pay their fair share of taxes again.