Page 241 - The Principle of Economics

Revenue as Percent of 35
GDP
30
25
20
15
10
5
0
1902 1913
1922 1927 1932
1940
1950 1960 1970
CHAPTER 12 THE DESIGN OF THE TAX SYSTEM 245
Total government
State and local
Federal
GOVERNMENT REVENUE AS A PERCENTAGE OF GDP.
federal government and of state and local governments as a percentage of gross domestic product (GDP), which measures total income in the economy. It shows that the government plays a large role in the U.S. economy and that its role has grown over time.
SOURCE: Historical Statistics of the United States; Economic Report of the President 1999; and author’s calculations.
France 38.8% United Kingdom 33.7 Germany29.4 Brazil 19.7 United States 19.3 Canada 18.5 Russia 17.4 Pakistan 15.3 Indonesia 14.7 Mexico 12.8 India 10.3
SOURCE: World Development Report 1998/99.
1980 1990 1998
Figure 12-1
Table 12-1
CENTRAL GOVERNMENT TAX REVENUE AS A PERCENT OF GDP
This figure shows revenue of the