Income averaging has not been allowed under the federal tax code since 1986.

NEWYORKER: Appreciation

American corporations face a 35% federal tax rate, averaging 40% with state income taxes.

FORBES: Magazine Article

Meanwhile, net private investment has fallen by almost a third, from averaging more than 10% of personal income to just over 7%.

FORBES: Memo To The President: We Can't Tax, Spend And Print Our Way To Prosperity