Chart of the Day
Posted at 10:15 a.m. on Dec. 10, 2012
– Dylan Matthews looks at the growing share of federal revenue from corporations that comes from individual income taxes, rather than corporate income and dividend taxes.
“While the vast majority of businesses used to pay the corporate income tax, the number of ‘pass-through’ entities like S corporations, sole proprietorships, LLCs and partnerships has been increasing rapidly in recent years… CBO estimates that if S corporations and LLCs were taxed like normal corporations in 2007, the government would have gained $76 billion more in revenue.”
