Interesting Tax Chart
I came across this chart while patrolling my normal rotation of economics blogs today:
(I know it's hard to read--if you want to look at the clearer version, click here.)
Crossposted
It shows that since Harry Truman, every Republican has left office with a lower tax burden as a % of GDP than when he took office, and every Democrat just the opposite.
The most optimistic view: Republican policies keep taxes low and spur the economy. Another view: Republicans have enough understanding of economic cycles to make tax policies that do not outpace the growth of the economy. An unlikely view: total luck.
It's easy to imagine a coincidence explaining this phenomenon over a short amount of time, but after 60 years, I think we are establishing a pattern.
3 comments:
Let me first say that I am on your side. I would like to see a comparison chart of what the deficit/surplus was during the presidential terms.
That info is readily available.
However, it doesn't have much to do with the marginal tax rate, which is the subject of this story.
The government running a surplus is not, in my view, a good idea.
I agree with you about running a surplus. I refer a lot of the information on this site to liberal friends so I have to act really stupid and then I realize what kind of follow up questions they would ask.
Post a Comment