The Shrinking percentage of Federal taxes compared to GDP

From a number’s man.

“According to the historical tables, federal revenues will only consume 14.4 percent of GDP this year – the lowest percentage since 1950. The postwar average is about 18.5 percent and there were many very prosperous years when revenues were considerably higher. In the late 1990s, they averaged more than 20 percent of GDP, which was a key reason why we ran budget surpluses.”

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