"... every shilling with which they overburden the inferior number, is a shilling saved to their own pockets."
- James Madison, Federalist #10.
In the FYI Department: Corporate taxes as a percentage of government revenue actually started dropping (to 27.3%) by 1955. Corporate taxes as a percentage of GDP (yes, there's a difference) dropped from 6.1% in 1952 to about 1.3% in 2011. Guess who gets to make up the difference?
UPDATE: And let's not forget this ... 26 corporations paid no federal taxes between 2008 and 2010 in spite of $205 billion in pretax profits.
UPDATE II: For your friends who don't believe anything unless it's on Fox News, here's the amount of revenue by source since 1934. Be sure to have them explain to you why corporate tax receipts have effectively dropped (collapsed?) as a source of revenue while individual income tax receipts and social insurance/retirement receipts have climbed over the years. Then ask them what affect this might have on corporate profits. Better yet, ask them how this might impact yearly budgets, and our national debt.