http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=205
Link I have provided is from the taxpolicy center.
Historical chart of tax receipts since 1934.
From 1946 on, the tax receipts as a % of GDP has been in a narrow band, around 18%, regardless of actual tax rates.
Interesting sidenote:
In 1936, the US government explained its brand new Social Security program, plus the associated taxes. The Social Security tax was set at 2%. The government promised it would rise to 3% in 1949, with no additional increases EVER:
Quoting the US gov't:
In 1949, the tax rose to 3% as scheduled. In five years, the government broke its promise. The tax rose to 4% in 1954, 4.5% in 1957, 5% in 1959? and continued to rise for decades. On January 1st it will be 12.4%.
Link I have provided is from the taxpolicy center.
Historical chart of tax receipts since 1934.
From 1946 on, the tax receipts as a % of GDP has been in a narrow band, around 18%, regardless of actual tax rates.
Interesting sidenote:
In 1936, the US government explained its brand new Social Security program, plus the associated taxes. The Social Security tax was set at 2%. The government promised it would rise to 3% in 1949, with no additional increases EVER:
Quoting the US gov't:
In 1949, the tax rose to 3% as scheduled. In five years, the government broke its promise. The tax rose to 4% in 1954, 4.5% in 1957, 5% in 1959? and continued to rise for decades. On January 1st it will be 12.4%.
