Reply #39: "As a CPA who does income taxes for a Fortune 500, I can assure you it is not that easy. "

[ProSense]

What does being a CPA have to do with a statistic about an overall industry?

The Decline of Corporate Income Tax Revenues

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• Treasury Department figures show that actual corporate income tax revenues fell to $132 billion in 2003, down 36 percent from $207 billion in 2000.
  
  
• As a result of these low levels, corporate revenues in 2003 represented only 1.2 percent of the Gross Domestic Product (the basic measure of the size of the economy), the lowest level since 1983, the year in which corporate receipts plummeted to levels last seen in the 1930s.
  
  
• Corporate revenues represented only 7.4 percent of all federal tax receipts in 2003. With the exception of 1983, this represents the lowest level on record (these data go back to 1934).

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