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No matter what the Income tax rates have been, US revenue as a percentage of GDP has been remarkably consistent.5 to 10% before WWII and 15 to 20% in the New Deal New Normal following.
Before, Corporate taxes were the majority of Income taxes and since, Individual has taken a greater and greater part.
Since the turn of the most recent century, Income Taxes and Social Insurance Taxes have not maintained their trends in an odd tango with the two advancing toward parity and a swap of SIT as the greater portion of federal revenues but never quite making it.
All figures are percentages of the whole represented.
Second chart shows Total Federal Revenue in 2009 inflation adjusted dollars. The third shows the components of revenue also in 2009 inflation adjusted dollars and organized just like the first set of tables.
Before, Corporate taxes were the majority of Income taxes and since, Individual has taken a greater and greater part.
Since the turn of the most recent century, Income Taxes and Social Insurance Taxes have not maintained their trends in an odd tango with the two advancing toward parity and a swap of SIT as the greater portion of federal revenues but never quite making it.
All figures are percentages of the whole represented.
Second chart shows Total Federal Revenue in 2009 inflation adjusted dollars. The third shows the components of revenue also in 2009 inflation adjusted dollars and organized just like the first set of tables.
Posted 10 y ago
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