Under the Mountain Bunker

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    Claims that President Obama’s policies have hurt businesses are greatly exaggerated →

    “Let’s start with the idea that the Obama administration sees businesses as piggybanks. Since 1950, corporate tax receipts have averaged 2.7 percent of GDP. In the Obama years, they’ve averaged 1.16 percent of GDP… Going forward, the Obama administration’s budget envisions corporate tax receipts rebounding to about 2.4 percent of GDP — again, beneath their historical average… After taxes, corporate profits amounted to 6.9 percent of GDP in 2010 — their highest level since 1966… That’s a mighty odd outcome for an administration that supposedly sees the existence of private businesses as an unpleasant side effect of the government’s need for tax revenues, don’t you think?” — Ezra Klein

    — 2 years ago
    #politics  #president obama  #public sector  #private sector  #class war  #jobs  #corporate profits  #under obama