1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web98-230 EUpdated April 17, 1998The Level of Taxes in the United States, 1940-1997David L. BrumbaughSpecialist in Public FinanceEconomics DivisionSummaryIn Fiscal Year (FY) 1997, federal receipts a
2、s a percent of Gross Domestic Product(GDP) reached their highest level since World War II. However, the peak is not adramatic one. Indeed, compared to the size of the U.S. economy or compared toincomes, the overall level of federal taxes has remained relatively stable over the past 45years, generall
3、y hovering at just under 20% of Gross Domestic Product (GDP). At thesame time, the composition of federal taxes has changed somewhat, generally shiftingaway from corporate income taxes and excise taxes towards social security taxes.Recent congressional activity has focused on the general level of ta
4、xes; H.J.Res. 111(Representative Barton) proposes a two-thirds majority be required for legislation thatwould increase taxes. For additional information on tax limitation proposals, see: A TaxLimitation Amendment: Issues and Options Concerning a Super-majority Requirement.CRS Report 98-368 GOV, by J
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