It would hold tax receipts to their post-World War II average of between 18% to 19% as a share of the economy.
WSJ: Review & Outlook: Paul Ryan and His Critics
Hands down, the highest tax receipts in the post-WWII era were in 1998, 1999 and 2000 at 19.9%, 19.8% and 20.6% when the top rate was 39.6%.
FORBES: Tax Rates and the Great Fairness Debate
On the secretary are bills and Post-it notepads and loose receipts and whatnot.
NEWYORKER: Playdate
And tax receipts were 19.2% of GDP. (Tax receipts were higher at a 50% top rate than any time during the post-WWII era of 80% and 90% tax rates.) The top rate was cut to 38.5% in 1987 then 28% in 1988, and tax receipts were 18.4% and 18.2% of GDP.
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