1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20087Updated June 20, 2006The Level of Taxes in the United States, 1940-2005David L. BrumbaughSpecialist in Public FinanceGovernment and Finance Division SummaryThe overall level of
2、federal tax receipts has varied in recent years. After reachinga post-World War II peak of 20.9% in fiscal year (FY) 2000, federal receipts as apercentage of gross domestic product (GDP) fell for three consecutive years, decliningin 2004 to its lowest level since 1959 (16.3%) before rising again to
3、17.5% in 2005 a level close to its post-war average of 18.3%. The decline in receipts was attributed toa variety of factors: slower economic growth, changes in the makeup of aggregateincome, and enacted tax-cut legislation. At the same time, the composition of federaltaxes has changed somewhat, gene
4、rally shifting away from corporate income taxes andexcise taxes towards Social Security taxes, but with individual income taxes remainingthe largest category over the post-World War II period. This report will be updated asadditional data become available.The Level of Taxes Compared to the Size of t
