Corporate Profits Just Hit An All-Time High, Wages Just Hit An All-Time Low

[Ghost of Huey Long]

49. Our founders intended on corporations paying Tariffs

If we didn't allow them to keep so much money, maybe they wouldn't be able to buy off our politicians and public airwaves.


Tariffs were the main source of all Federal revenue from 1790 to 1914. At the end of American Civil War in 1865 about 63% of Federal income was generated by the excise taxes which exceeded the 25.4% generated by tariffs. In 1915 during World War I tariffs generated only 30.1% of revenues. Since 1935 tariff income has continued to be a declining percentage of Federal tax income.


year % of Budget Paid by Tariffs

1792 95.0%
1795 91.6%
1800 83.7%
1805 95.4%
1810 91.5%
1815 46.4%
1820 83.9%
1825 97.9%
1830 88.2%
1835 54.1%
1840 64.2%
1845 91.9%
1850 91.0%
1855 81.2%
1863 55.9%
1864 38.7%
1865 25.4%
1870 47.3%
1880 55.3%
1885 56.1%
1890 57.0%
1900 41.1%
1910 34.6%
1913 44.0%
1915 30.1%
1916 27.3%
1917 20.1%
1918 25.8%
1920 13.2%
1925 14.5%
1928 14.0%
1930 14.1%
1935 8.4%
1940 6.1%
1942 2.9%
1944 0.9%
1946 0.9%
1948 0.9%
1950 0.9%
1951 1.1%
1955 0.8%
1960 1.1%
1965 1.2%
1970 1.3%
1975 1.3%
1980 1.4%
1985 1.6%
1990 1.1%
1995 1.4%
2000 1.0%
2005 1.1%
2010 1.2%