The Nation : Corporation Taxes Decline

In 1984, President Reagan’s 1981 tax cuts resulted in corporations paying the lowest average tax rates in 50 years--22%, compared to 34% in 1981, 43.8% in 1980 and 40% in the 1960s and 1970s, the Congressional Budget Office said. The report called the corporate tax system “seriously deficient” in the goals of raising revenue simply, fairly and efficiently. However, it added that, by 1990, tax changes passed 1982 and 1984 will cause corporations to pay even more taxes than they would have if the 1981 cuts had not been enacted.