The Case For The Tax Cut

Studies | Taxes

No. 226
Sunday, August 01, 1999
by Bruce Bartlett


Appendix

Figures I, II and III. These data come from the National Income and Product Accounts published by the Department of Commerce. They are a more accurate measure of federal receipts because they include many revenues excluded from the more familiar budget data published by the Office of Management and Budget. For details, see Budget of the United States Government, Fiscal Year 2000: Analytical Perspectives (Washington: U.S. Government Printing Office, 1999), pp. 351-355.

The historical GDP and federal receipts data are from U.S. Department of Commerce, National Income and Product Accounts of the United States, 1929-94: Volume 1 (Washington: U.S. Government Printing Office, 1998). More recent data are from the Joint Economic Committee's Economic Indicators. Forecast data are from Congressional Budget Office, The Federal Sector of the National Income and Product Accounts (July 30, 1999), and The Economic and Budget Outlook: An Update (July 1, 1999).

Data on the effects of the tax bill on revenues are from Joint Committee on Taxation, Estimated Budget Effects of the Conference Agreement for H.R. 2488, JCX-61-99 (August 5, 1999), available at: http://www.house.gov/jct/x-61-99r.pdf.

Figure IV. Data are from the Joint Committee on Taxation from a House Ways & Means Committee press release on February 16, 1999.

Figure V. Data are from Internal Revenue Service, Statistics of Income Bulletin (Spring 1999), pp. 33-35.

Figure VI. From Joint Committee on Taxation, Distributional Effects of the Conference Agreement for H.R. 2488, JCX-62-99 (August 5, 1999), available at: http://www.house.gov/jct/x-63-99.pdf. These data differ from those in Figure IV because they include all federal taxes, whereas Figure IV is for income taxes only.

Figure VII. Calculated from unpublished Internal Revenue Service data at:

Figure VIII. From Congressional Budget Office, "Perspectives on the Ownership of Capital Assets and the Realization of Capital Gains," CBO Papers (May 1997), p. 29, available on the Internet at . The data assume no loss limits.

Figure IX. From the Department of Commerce's personal income data, as published in Economic Indicators.

Table I. Based on Jerry Tempalski, "Revenue Effects of Major Tax Bills," Office of Tax Analysis Paper 81 (December 1998), available at: http://www.ustreas.gov/ota/ota81.pdf, plus the data in Figure III.

Table II. Data are from Congressional Budget Office, The Economic and Budget Outlook: Fiscal Years 2000-2009 (Washington: U.S. Government Printing Office, 1999), p. 50.


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