80 90 100 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 Top Income Tax Bracket Total Tax Revenue as Percent of GDP Income Tax Revenue as Percent of GDP Tax Revenues Do Not Correlate Well with Tax Rates ID: 799771
Download The PPT/PDF document "10% 20% 30% 40% 50% 60% 70%" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Slide2Slide310%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1950
1955
1960
1965
1970
1975
1980
1985
1990
1995
2000
2005
Top Income Tax Bracket
Total Tax Revenue as Percent of GDP
Income Tax Revenue as Percent of GDP
Tax Revenues Do Not Correlate Well with Tax Rates
Fiscal Year
Chart 3
Source: Heritage Foundation
Slide4Tax Revenues are Highly Correlated With GDP
Real 2006 GDP
($Billions)
Real 2006 Tax Revenues
($Billions)
1950
1960
1970
1980
1990
2000
$3,500
$7,000
$10,500
$14,000
$500
$1,000
$1,500
$2,000
$2,500
Real Tax Revenue
Real GDP
Chart 4
Source: Heritage Foundation
Slide5Slide6We Are In A Spending-Driven Debt Crisis
Historic/Projected Spending & Revenue As A Percentage Of The Economy
Source: Office of Management and Budget Historic Tables, Congressional Budget Office; projections based on the
CBO’s
Alternative Fiscal Scenario.
Chart 6
Slide7Slide8Slide9What Drives Our Debt?
(Government Spending as Share of Economy)
Chart 9
Slide10Chart 10