I am not going to fully canvass what the following statistics means to every one of us.
Suffice to say that our everyday lifestyle would improve markedly; the health care of our people would not be a burden, we could afford the education of our next generation, infrastructure would expand......and small business would thrive again...............we just need our Corporate Serving Politicians to represent us and not stateless global corporations.

These are US stats....but it holds for the entire globe.

Corporate Taxes as a Percentage of Federal Revenue
1955 . . . 27.3%
2010 . . . 8.9%
Corporate Taxes as a Percentage of GDP
1955 . . . 4.3%
2010 . . . 1.3%
Individual Income/Payrolls as a Percentage of Federal Revenue
1955 . . . 58.0%
2010 . . . 81.5%

Of course, there has been some articles about how the middle income earner is now the main contributor to taxes, and this has occurred as the level of company taxation has fallen.

Don't forget the billions of dollars of untaxed profits made by religious corporations, and their refusal to even pay land taxes and local government rates.

Here's a scenario for you, sonofgloin. It might help you understand the relationship between corporate tax and personal tax just a little bit better.

Company A:

Revenues $1 million
Cost of Goods $500K
Wages: $400k
Premises, telephone/internet, insurance, advertising, office supplies, accounting fees etc. $100k
Net profit $0

Taxation on the above:

Corporate Tax $0
Personal Taxes paid by employees (approx): $88k
(add to this GST, stamp duties etc. paid by individuals...)

You figures could equally explain just how close to the bone US companies are running, because they spend so much on employee salaries...

Why do so many people think that increasing tax is the answer?

For every dollar raised in tax, only 66% goes back into the community (roads, hospitals etc ATO stats 2009)So, income tax is a drain on society.

If you lower income tax, Mr average will SPEND that money, the more money spent, the more GST revenue, more jobs , more people paying income tax. A win/win for everyone.

Why can't governments work within their budgets?.

Every business cant just increase prices because "we have blown our budgets" So why can't public servants get into their head, there is no endless supply of money.

Each increase in council rates/levys, each increase in state govt charges and each increase in income tax, causes more inefficiencies in our society. A third of revenue raised is wasted

Greetings Pericles, I do have a "working" understanding of corporate tax. When the board meets they are presented with an EBIT figure (earnings before interest and tax. This figure is minus all fixed costs and liabilities to be paid that current financial year.

Then they are presented with the taxable revenue figure.........regardless of your profit and loss calculations that figure was taxed at three times it current rate 40 years ago.

Given your defense of the corporate tax rate, why should small and medium businesses pay nearly 30% tax on their meagre profits while the corporate conglomerate opposing them in the marketplace has economies of scale the privateers only dream about pay 8%?