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Originally Posted by dc_dux
Tax revenues accounted for 19.8 percent of gross domestic product in 2001. They have dropped as a percentage in each of the last three years to a low of 16.3 percent of GDP in 05...and will drop even more once the last round of cuts kick-in this year.
The tax cuts, along with Iraq war costs, are most responsible for the total loss of the budget surplus that Bush inherited.
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Budget surplus = more money than the government should have had. surplus /= good, surplus means we are over taxed.
I think 16.8% of GDP is fair.
why do we need to raise taxes? why not just spend less?
average tax recipts as a percentage of GDP 1940-2003: 17.45%
like I said, spend less. keep the tax rates about here, but spend less.