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Lectures in Macroeconomics- Charles W. Upton
Government Taxing and Borrowing
0
0.02
0.04
0.06
0.08
0.1
0.12
1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999
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Government Taxing and Borrowing
Our Objective
• This is a descriptive section. Here, we present some data on government taxation and borrowing.
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Government Taxing and Borrowing
Our Objective
• This is a descriptive section. Here, we present some data on government taxation and borrowing.
• The discussion revolves around graphs showing government taxation and borrowing, usually as a percentage of GDP.
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Government Taxing and Borrowing
How the Feds Tax, 1940-2003
0
0.2
0.4
0.6
0.8
1
1.2
1940
1943
1946
1949
1952
1955
1958
1961
1964
1967
1970
1973
1976
1979
1982
1985
1988
1991
1994
1997
2000
2003
FIT
CITOASI
Other
% of Federal Taxes by type
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Government Taxing and Borrowing
How the Feds Tax, 1960-2003
0
0.2
0.4
0.6
0.8
1
1.2
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
FIT
CITOASI
Other
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Government Taxing and Borrowing
Income Taxes 1960-2003
0
0.02
0.04
0.06
0.08
0.1
0.12
1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999
As % of GDP
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Government Taxing and Borrowing
Income Taxes 1960-2003
0
0.02
0.04
0.06
0.08
0.1
0.12
1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999
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Government Taxing and Borrowing
Production and Import Taxes
0
0.005
0.01
0.015
0.02
0.025
0.03
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000
1959-2002 as % of GDP
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Government Taxing and Borrowing
Corporate Income Tax
0
0.005
0.01
0.015
0.02
0.025
0.03
0.035
0.04
0.045
0.05
1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999
1959-2002 as % of GDP
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Government Taxing and Borrowing
OASI
0
0.01
0.02
0.03
0.04
0.05
0.06
0.07
0.08
1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999
1959-2002 as % of GDP
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Government Taxing and Borrowing
How the States Tax
0
0.2
0.4
0.6
0.8
1
1.2
1932
1938
1944
1950
1954
1957
1960
1963
1964
-65
1967
-68
1970
-71
1973
-74
1976
-77
1979
-80
1982
-83
1985
-86
1988
-89
1991
-92
1994
-95
1997
-98
2000
-01
Property
Sales
Other
Federal
Income
Corp Profits
% of State Taxes by type
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Government Taxing and Borrowing
State and Local Taxes, 2001
Property Taxes
Sales Taxes
Income Taxes
Corporate Income Taxes
Federal Government
Other
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Government Taxing and Borrowing
Federal Borrowing, 1934-2003
-35.0
-30.0
-25.0
-20.0
-15.0
-10.0
-5.0
0.0
5.0
10.0
1934 1938 1942 1946 1950 1954 1958 1962 1966 1970 1974 1978 1982 1986 1990 1994 1998 2002
Deficit as % of GDP
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Government Taxing and Borrowing
Federal Borrowing, 1960-2003
-7.0
-6.0
-5.0
-4.0
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000
Deficit as % of GDP
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Government Taxing and Borrowing
Debt-GDP Ratio, 1939-2003
0.0
20.0
40.0
60.0
80.0
100.0
120.0
1939 1943 1947 1951 1955 1959 1963 1967 1971 1975 1979 1983 1987 1991 1995 1999 2003
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Government Taxing and Borrowing
Debt-GDP Ratio, 1960-2003
0.0
10.0
20.0
30.0
40.0
50.0
60.0
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000
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Government Taxing and Borrowing
% of Federal Debt Held by Public
1950 2003
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Government Taxing and Borrowing
End
©2004 Charles W. Upton. All rights reserved
Data are from Statistical Appendix of
Economic Report of the President