Former Reagan economic adviser Art Laffer joins ‘Varney & Co.’ to discuss why unleashing American energy could spark a Reagan-style economic boom and drive down oil prices.
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About The Author
I remember we were told if we got a state lottery, thirty years ago, that eventually property taxes would go away – ha ha
You all pulled the ladders up behind you decades ago. Where do these chumps come from?
It’s taxes and home insurance
Grand Wizard Trump is ushering in the greedy and morally corrupt Epstein class so they can accumulate vast amounts of wealth too buy and influence elections, grape and molest girls. and divide the people to distract from there theft of 95% of Americas wealth. (Hyperbole not!) I can prove it!
If we doubled everyone’s pay tomorrow, we would still not have the buying power we had in 1975.
Wages have not been keeping up with inflation over the last 50 years.
The federal statutory corporate tax rate in the United States has seen significant reductions since 1970, dropping from a top rate of 49.2% (including a surcharge) down to a flat 21% today.
Corporations consume vast quantities of resources in the area where they are located. Roads, electricity, water, fire, police and pay very little local taxes (sometimes no local taxes at all when given deals by the state) and pay an effective Federal tax rate lower than that of normal wage jobs such as secretaries, plumbers or nurses. Then they have loopholes. OH YEA those corporate socialist LOOPHOLES.
Corporate tax landscape over the last 55 years.
Key Shifts in U.S. Corporate Tax History
• 1970s (The Graduated Era): In 1970, the top rate was 48% (plus a temporary 2.5% surcharge, making it 49.2%). By 1979, the top rate for income over $100,000 was lowered slightly to 46%.
Credit cards just got their start 19% interest stole capital from the middle class
• Tax Reform Act of 1986: This landmark legislation significantly slashed the top rate from 46% to 34%, effective in 1987. (I voted for Reagan in 1984)
• 1993 Increase: Under the Omnibus Budget Reconciliation Act, the top rate was slightly increased to 35% for income over $10 million, where it remained for 25 years.
• Tax Cuts and Jobs Act of 2017 (TCJA): Effective January 1, 2018, the graduated system was replaced with a permanent flat rate of 21%.
• 2025 Status: As of early 2026, the statutory rate remains at 21%. While the One Big Beautiful BillAct (OBBBA) of 2025 made some business incentives permanent, it did not alter the 21% flat rate.
For more detailed historical data and specific bracket information, you can explore the Tax Foundation's historical archives or the Tax Policy Center’s marginal rate statistics.
Would you like to compare these statutory rates with the effective tax rates (what companies actually paid after deductions) during the same period?
What are the 2025 corporate tax rates for American businesses? Whether you’re currently operating a business or about to launch, it’s essential to understand this year’s rates, and the many questions surrounding the Tax Cuts and Jobs Act (TCJA) provisions that was set to expire at the end of 2025. Considering your corporate taxes while planning for the year ahead is crucial to minimize your 2025-26 tax burden.
Notable corporate income tax changes in 2025
Did the corporate tax rate change? Review notable changes and issues surrounding the federal and state corporate tax rate.
Federal rate changes
The flat 21% federal corporate income-tax rate is unchanged. The new One Big Beautiful Bill Act (OBBBA), signed July 4, 2025, made several TCJA business incentives permanent. For example, full expensing for R&D and an expanded, permanent §199A pass-through deduction. However, this new bill did not alter the 21% rate.
State rate changes
2025 saw a mix of rate cuts and a few increases:
• Louisiana cut to a flat 5.5% (was 7.5%).
• Nebraska adopted a flat 5.20% (down from 5.84%) and scheduled future reductions.
Several individual provisions still sunset after December 31, 2025, but the 21% corporate rate is permanent law. Congress is debating whether to pair any future corporate-rate change with additional business incentives in 2026, but no rate bill is on the President’s desk as of mid 2025.
With 1-800Accountant's small business tax advisory services, your business can stay prepared for all of the incoming tax changes.
Federal corporate income tax rate
Since 2018, the federal corporate tax rate has been 21%. This rate applies to taxable income, a small business's revenue minus expenses.
Calculating your federal corporate income tax burden is simple. In this example, the annual revenue is $100,000, and the expenses are $20,000.
1) Subtract expenses from your revenue.
$100,000 – $20,000 = $80,000 in taxable income.
2) Multiply your taxable income by the federal tax rate.
$80,000 x .21 = $16,800 you owe in federal corporate taxes.
Then take away the loopholes.
Don't fall for FOX propaganda. Sue Trump now then impeach him
Fox needs to get off its knees and wipe the orange off its mouth
Laffer ….🤡🤫🤥🌬️👀🐓🤣😂🤣😂🤣😂🙉🙊🙈🤣😂🤣😂
I'll believe when I see it in Michigan , they are all crooks! ! ! !
What the hell is the HEPA for anyway?? I don't care I have NOTHING to hide!
Property tax is evil, we are retired and our property taxes are $500 per month!
OPEC are unlikely to play ball a second time around. Saudi Arabia needs high oil prices to fund its increasing budget. Their objectives have changed in the past 40 years. They still wield enough power within OPEC to trim supply to achieve the revenues they need. The US no longer has the ability to move the market on its own as it is reliant on foreign supplies for its mix.
*for trillionaires
Vote republicans out
This guy was interview just after taking some drug. From Hipa. He knows not one thing about energy. Talk about the Household Utility charges. He had to stop the head rush did not last long, and ran out of lies.
The lowest amount of houses have been built under trump,,houses are 10% more expensive ,putting them out of reach to the average worker
The big word is “might “ many economists disagree with this expert ,
When is Fox News going to look in to Pam Bondi, Jeffery Epstein and Donald Trump connection? We have seen the pictures. Come on Fox, let's investigate for once.
Trump said prices will go down from DAY ONE. A year later these losers say cost COULD fall? WHEN? HOW MUCH MORE WE HAVE TO WAIT?
Iowa Hit With MOST Bankruptcies Up 220% With Tariffs And Trade Policies
The economy stinks buddy plants closing all over the country
Supply side is the only way.
Demand side is for commies who want to get a greater share of a shrinking pie.
Help us in California! The Governor and The Super majority have made financially difficult!😡
Its in the insurance companies best interest to lower drug prices and medical care. I don't understand why they wouldn't want it.
Én vagyok az első jedi… (Az erőhasználó jedi, a mesterséges faj evolúció által jön létre… boy)
Arrest all the criminals in congress both sides
Bakatoukouna dialo dit que sa soin la dernière foi la première foi je mettrai pas me pieds en asile et que elle à reconnaître naime en premier et moi derrière dialo
C'est-à-dire dialo na noinina bah copine
COULD…
Love the honesty
Stop BS. Food price is still on the rise.
Several adverbs describe this administration could maybe possible likely
Thank God for President Trump 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
From NY. I started investing a month ago. I started with 3k, now I am over 10k. It's a great start with stock market. Thank you both for the information. Peace Power and love ❤
So you just go and ROB other countries taking their oil
Unleash Jurassic! oil now
They need to think?not me ?
Click bait
The housing problem accelerated since the late 1970s. Since that time, people and corporations began to treat the housing as an investment vehicle. The investors drove up the housing prices and get great returns while more people were struggling to pay their rents or mortgages. The investors forced people out of their home and their neighborhoods, and eventually to the streets.
OMG the propaganda is non stop big oil wont pump below 60 bucks a barrel wake up maga.
Costs could fall, implying costs are high. Which Trump and his minions have been denying for a year. Thank you for your attention to this matter!