Thursday 16 April 2009
The irony of these protests is that federal revenues as a share of the gross domestic product will be lower this year than any year since 1950. According to the Congressional Budget Office, the federal government will take only 15.5% of GDP in taxes this year, compared to 17.7% last year, 18.8% in 2007 and 20.9% in 2000. The truth is that the U.S. is a relatively low-tax country no matter how you slice the data. Bruce Bartlett ☀
