New website page: Quick-links to helpful data. National debt numbers as of yesterday, amount paid in interest for national debt each month/year, average interest rate on national debt, U.S. budget allocations, history of GDP, monetary base chart, how much we owe foreign nations, SS worker to beneficiaries ratio history, food stamp numbers, who pays taxes, helpful articles, video, plus much more…
One of the most helpful lessons I learned in my research was understanding the historical relationship between GDP (Gross Domestic Product) and federal revenues as a percent-age of GDP. For example, in 2008, federal revenues were $2.5 trillion and GDP was $14.2 trillion; therefore, revenue was 17.61 percent of GDP ($2.5 trillion ÷ $14.2 trillion = 17.61 percent).
Over the past forty years, the amount of federal revenue as a percentage of GDP falls within a narrow band between 14.9 percent and 20.6 percent. The forty-year average is 17.79 percent.
Note the forty-year average of 17.79 percent is during years of high and low individual and corporate tax rates.