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Old 01-21-2013, 09:08 PM   #22
325seeeye
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Quote:
Originally Posted by evolved View Post
Tax receipts as a percentage of GDP are well below the historical average for the past 60ish years. The SS tax break was meant to be temporary, so you can complain that it's a sinister tax increase, but it was a return a level that was normal during the prior years.
The revenue vs GDP charts take a sharp downturn only in 2009-present - I surmise from the sharp drop in revenue from the unemployment and reduction in consumer spending. Oddly, GDP continued to rise in the last 4 years. I guess our exports are flourishing. But you bring up a point which (IMO) exemplifies that our problem is more spending than revenue. Spending as a percentage of GDP over the last 50+ years follows an upward trend (whereas revenue vs GDP is fairly constant). We keep spending more.

http://www.usgovernmentspending.com/...ury_chart.html
http://www.taxpolicycenter.org/taxfa....cfm?Docid=205

This link is from your thread http://research.stlouisfed.org/publi...rrettRhine.pdf. Maybe some people will read it.
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Last edited by 325seeeye; 01-21-2013 at 09:10 PM.
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