[justlurking]

Revenues may be a lower percentage of GDP, but rates are higher than they were in 1988.

The CBO data is based on taxes paid, divided by total income. It's independent of income adjustments, deductions, tax brackets, etc.

In 2009, the average tax rate for ALL federal taxes (personal income, corporate income, social insurance, and excise) was 17.4%. In 1988, it was 21.5%.

The average tax rate has hovered around 20-22% for the past three decades, until it dropped significantly the past two years. The biggest reason appears to be an over-dependence on the "rich" for income tax revenue. Their income is more sensitive to the economic cycle, and when it dropped significantly, so did tax revenues.

[smokingfrog]

Top 20 Percent of Households Pay 94 Percent of Income Taxes

The IRS is now a spending agency for the bottom 40 percent of households.