Question of the Day

In 2014, was the portion of the U.S. economy (GDP) consumed by federal, state, and local taxes higher or lower than the average of the past 8 decades?

Correct Answer

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Between 1929 and 2014, the portion of the U.S. economy consumed by federal, state, and local taxes has ranged from 10% to 29%, with the median being 25% and the average 23%. In 2014, the figure was 27%.

DocumentationTaxes & GDP