Nobody really wants to pay taxes, but taxes are necessary for governments as well as its infrastructure to function effectively and to stay up-to-date. The sheer size of corporations is something that most people have great difficulty, conceptualizing, of which, the highest amount of sales by any US based corporation in 2017, was WalMart, which had revenues of an astonishing $500,343 billion dollars. The company with the biggest profits in 2017 was Apple with an incredible $48,351 billion dollars.
Americansfortaxfairness.org states that:”corporate share of federal tax revenue has dropped by two-thirds in 60 years — from 32% in 1952 to 10% in 2013." Such a drop in tax revenues collected from corporations clearly indicates that corporations are extremely gifted at avoiding their fair share of paying such taxes, and thereby effectively burdening individuals with even more of such taxation.
So too, this makes it very clear, that those corporations complaining about how high corporate rates are vis-à-vis other countries, which was successful in dropping the corporate tax rate from 35% to 21% in 2017, effectively duped the government. For the truth of the matter is that few corporations, ever paid at 35%, having readily demonstrated that through their sophistication of maneuvering money all around the globe, and other assorted end-a-rounds, that they are quite gifted at tax avoidance.
When it comes to taxation, the best entities to actually tax are those entities that actually have the money to be taxed, of which, today's mega-corporations have loads upon loads of dollars that should be fairly taxed. Yet, the ensuing decades from the 1950s onward, clearly indicates that corporations are not paying their fair share, thereby burdening individual tax payers by shouldering onto them far more in taxation than is fair.
Additionally, it doesn't make any logical sense that individuals are charged their taxes based upon a progressive tax rate as determined by the government, whereas, corporations are subject to a flat tax, of which they not only don't pay even close to that rate, but strangely those corporations making modest amounts of profits, are taxed at the same flat rate, as those companies that are making billions upon billions of dollars.
The fact that the corporate share of federal tax revenue paid has dropped so dramatically, clearly demonstrates that corporations are working hand-in-glove with the taxing and governmental authorities, for corporate profits have never been greater, yet, the percentage of taxes so collected from corporations have essentially plummeted.
This means, when it comes to budget deficits, a very good argument can be made, that such deficits could be reduced considerably, if corporations were more appropriately taxed as they should rightly be, and if this government, made it a point, to actually monitor and to audit corporations so as to extract more money from those companies, so that they will once again, pay their fair share.
In addition, if the largest corporations in America paid a higher percentage of their profits to federal tax authorities, no doubt, this would, in effect, strongly help to redistribute money from the superrich to those that are struggling and thereby reduce somewhat the income inequality within America.