https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762
I used the tax revenue the preceding year the President took office and compared it to the tax revenue the President's last year in office to get an average growth rate over the course of their Presidency.
John Kennedy: $93B - $113B - 5% annualized tax revenue growth over 4 years. Big tax cut
Lyndon Johnson: $113B - 153B - 7.88% annualized tax revenue growth over 4 years
Richard Nixon: $153B - 263B - 9.45% annualized tax revenue growth over 6 years
Gerald Ford: $263B - $298B - 6.45% annualized tax revenue growth over 2 years.
Jimmy Carter: $298B - $517B - 14.77% annualized tax revenue growth over 4 years.
Ronald Reagan: $517B - $909B - 7.31% annualized tax revenue growth over 8 years. Two tax cuts
George Bush: $909B - $1.09T - 4.65% annualized tax revenue growth over 4 years.
Bill Clinton: $1.09T - $2.03T - 8.09% annualized tax revenue growth over 8 years. Tax increase
George W Bush: $2.03T - $2.52T - 2.74% annualized tax revenue growth over 8 years. Two tax cuts, war, attacks on the homeland.
Barrack Obama: $2.52T - $3.27T - 3.32% annualized growth over 8 years. Tax cut and tax increase. Took over a shit economy. Tax revenue grew at 6.54% after first year of Bush fiasco.
Ranking annual tax revenue growth
1. Carter - 14.77%
2. Nixon - 9.45%
3. Clinton - 8.09%
4. Johnson - 7.88%
5. Reagan - 7.31%
6. Ford - 6.89%
7. Obama - 6.54% a year removed from the Great Recession
8. Kennedy - 5% (gave him credit for the entire term)
9. H.W. Bush - 4.65%
10. Barrack - 3.32% including inherited shit storm
11. G.W. Bush - 2.74% (Guy dealt with an attack on American soil. Gets a pass in my book)
My takeaways:
1. Tax revenue grew at an annualized 6.35% over the past 57 years
2. Tax revenue growth averaged 7.93% per year from 1960 to 2000 (Before Bush wrecked the economy)
3. Tax revenue growth under Reagan was below average for the 1960 to 2000 period
4.. Tax revenue under Reagan was not better than the average President
5. The Reagan tax cut revenue argument falls apart under scrutiny.
6. Reagan was only 5th in tax revenue growth.
7. Regan's 7.31% tax revenue growth ONLY beat Ford's two years and Kennedy (the other person often cited for great tax revenue increases) when compared to Presidents that came before him.
8. Despite the fact that every single thing I just typed is verifiable fact, I will get attacked for reporting the numbers.
I used the tax revenue the preceding year the President took office and compared it to the tax revenue the President's last year in office to get an average growth rate over the course of their Presidency.
John Kennedy: $93B - $113B - 5% annualized tax revenue growth over 4 years. Big tax cut
Lyndon Johnson: $113B - 153B - 7.88% annualized tax revenue growth over 4 years
Richard Nixon: $153B - 263B - 9.45% annualized tax revenue growth over 6 years
Gerald Ford: $263B - $298B - 6.45% annualized tax revenue growth over 2 years.
Jimmy Carter: $298B - $517B - 14.77% annualized tax revenue growth over 4 years.
Ronald Reagan: $517B - $909B - 7.31% annualized tax revenue growth over 8 years. Two tax cuts
George Bush: $909B - $1.09T - 4.65% annualized tax revenue growth over 4 years.
Bill Clinton: $1.09T - $2.03T - 8.09% annualized tax revenue growth over 8 years. Tax increase
George W Bush: $2.03T - $2.52T - 2.74% annualized tax revenue growth over 8 years. Two tax cuts, war, attacks on the homeland.
Barrack Obama: $2.52T - $3.27T - 3.32% annualized growth over 8 years. Tax cut and tax increase. Took over a shit economy. Tax revenue grew at 6.54% after first year of Bush fiasco.
Ranking annual tax revenue growth
1. Carter - 14.77%
2. Nixon - 9.45%
3. Clinton - 8.09%
4. Johnson - 7.88%
5. Reagan - 7.31%
6. Ford - 6.89%
7. Obama - 6.54% a year removed from the Great Recession
8. Kennedy - 5% (gave him credit for the entire term)
9. H.W. Bush - 4.65%
10. Barrack - 3.32% including inherited shit storm
11. G.W. Bush - 2.74% (Guy dealt with an attack on American soil. Gets a pass in my book)
My takeaways:
1. Tax revenue grew at an annualized 6.35% over the past 57 years
2. Tax revenue growth averaged 7.93% per year from 1960 to 2000 (Before Bush wrecked the economy)
3. Tax revenue growth under Reagan was below average for the 1960 to 2000 period
4.. Tax revenue under Reagan was not better than the average President
5. The Reagan tax cut revenue argument falls apart under scrutiny.
6. Reagan was only 5th in tax revenue growth.
7. Regan's 7.31% tax revenue growth ONLY beat Ford's two years and Kennedy (the other person often cited for great tax revenue increases) when compared to Presidents that came before him.
8. Despite the fact that every single thing I just typed is verifiable fact, I will get attacked for reporting the numbers.