lectures in macroeconomics- charles w. upton government taxing and borrowing

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

Government Taxing and Borrowing

Our Objective

• This is a descriptive section. Here, we present some data on government taxation and borrowing.

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.

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

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

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

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

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

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

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

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

Government Taxing and Borrowing

State and Local Taxes, 2001

Property Taxes

Sales Taxes

Income Taxes

Corporate Income Taxes

Federal Government

Other

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

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

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

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

Government Taxing and Borrowing

% of Federal Debt Held by Public

1950 2003

Government Taxing and Borrowing

End

©2004 Charles W. Upton. All rights reserved

Data are from Statistical Appendix of

Economic Report of the President