Republicans claim the federal government will “collect more revenue in 2013 than ever before.” But that’s only true in raw dollars, not as a percentage of gross domestic product, which accounts for growth in population, inflation and earnings.
Boehner’s Revenue Reach
House Speaker John Boehner claimed the federal government will take in more revenue this year than any other year in history. That’s true in nominal dollars, but not as a percentage of gross domestic product — a measure preferred by most economists that accounts for growth in population, inflation and earnings.
In fact, as a percentage of GDP, revenues this year are actually lower than the historical average since World War II.
In an interview on CBS Evening News on Feb.