Charts like these mean very little. Measuring forty years of revenue in nominal dollars (without adjusting for inflation) is just grossly misleading at best. Even a context such as concurrent GDP growth would help.
East Ghost | 06.18.08 - 6:14 am | #

Not to mention, it doesn't take into account the fact that the Bush admin and the GOP congress of 2000-2006 increased the yearly budget by over 80% which doesn't even include the yearly "emergency budget" they get pushed through for funding our various never ending wars to the tune of $300 Billion or so each.
Dan | 06.18.08 - 8:28 am | #

Horsefeathers. When plotted as a percentage of GDP taxes are pretty constant, as shown here.
Everett | 06.18.08 - 9:16 am | #

But the numbers do mean something. It simply cannot be ignored that during the period of 2000-2007, revenues increased by $427B while outlays increased by a staggering $941B--more than twice as much.
Rob | 06.19.08 - 2:37 pm | #

Everett is right. Mario's chart is deceptive and misleading.

If you go here (pdf):
www.cbo.gov/ftpdocs/70xx/doc7027/01-26- BudgetOutlook.pdf

You'll see that revenues have stayed in a fairly narrow range, (17% - 21% of GDP) between 1962 and 2005
Michael H Schneider | 06.21.08 - 6:06 pm | #

sorry, something screwed the link. Try this:

www.cbo.gov/ftpdocs/70xx/doc7027/01-26- BudgetOutlook.pdf

and look at table F-2, page 141
Michael H Schneider | 06.21.08 - 6:09 pm | #

www.cbo.gov/ftpdocs/70xx/doc7027/01-26- BudgetOutlook.pdf

sorry. Mysterious blank spaces appearing in that URL

Darn, on preview, there it is again. I don't know why. Delete the blank space before BudgetOutlook

Sorry.
Michael H Schneider | 06.21.08 - 6:14 pm | #