File:Federal individual income tax receipts 2000-2009.png

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English: Federal income tax revenue trends $ and % GDP from 2000 to 2009

Explanation

According to the CBO historical tables:[1]

  • Federal individual income taxes averaged 8.4% of GDP (a measure of the size of the economy) from 1970 to 2000.
  • Since the Bush tax cuts in 2001 and 2003, federal individual income taxes have remained below the 8.4% GDP level (the average from 1970-2000) with the exception of 2007.
  • Federal individual income tax dollars did not again reach their 2000 peak of $1.0 trillion until 2006, then dropped back below this level as the economy entered recession in 2009.
  • 2009 federal individual income taxes of 6.4% of GDP were the lowest level since at least 1968.
Date (UTC)
Source Own work (Original text: I (Farcaster (talk)) created this work entirely by myself.)
Author Farcaster (talk) 16:03, 18 December 2010 (UTC)

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References[edit]

  1. ↑ CBO Historical Tables-Current Version

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  • 2010-12-18 16:24 Farcaster 960×720× (24029 bytes)
  • 2010-12-18 16:03 Farcaster 960×720× (23994 bytes) {{Information |Description = Federal income tax revenue trends $ and % GDP from 2000 to 2009 |Source = I (~~~) created this work entirely by myself. |Date = ~~~~~ |Author = ~~~~ |other_versions = }}

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