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Receipts: Tax receipts as a percentage of the Gross Domestic Product Tax Federal GNP Unemp. Year Receipts Spending Growth Rate ------------------------------------------------- 1929 -- -- -- 3.2% 1930 4.2% 3.4% - 9.4% 8.7 1931 3.7 4.3 - 8.5 15.9 1932 2.9 7.0 -13.4 23.6 1933 3.5 8.1 - 2.1 24.9 1934 4.9 10.8 + 7.7 21.7 1935 5.3 9.3 + 8.1 20.1 1936 5.1 10.6 +14.1 16.9 1937 6.2 8.7 + 5.0 14.3 1938 7.7 7.8 - 4.5 19.0 1939 7.2 10.4 + 7.9 17.2 1940 6.9 9.9 1941 7.7 12.1 1942 10.3 24.8 1943 13.7 44.8 1944 21.7 45.3 1945 21.3 43.7 Sources: T.H. Watkins, The Great Depression: America in the 1930s (New York: Little, Brown and Company, 1993) Kevin Phillips, Boiling Point (New York: HarperCollins, 1993) Kevin Phillips, The Politics of Rich and Poor (New York: Random House, 1990) The 1995 Grolier Encyclopedia (Entries: New Deal, Depression of the 30s, Roosevelt, Coolidge.) The Encyclopedia Brittanica Online (Entries: New Deal, Great Depression.) Donald Barlett and James Steele, America: What Went Wrong? (Kansas City: Andrews and McMeel, 1992) Donald Barlett and James Steele, America: Who Really Pays the Taxes? (New York: Simon & Schuster, 1994) James MacGregor Fox, Roosevelt: The Lion and the Fox (New York: Konecky and Konecky, 1956) Elaine Schwartz, Econ 101½ (New York: Avon Books, 1995) Peter Pugh and Chris Garratt, Introducing Keynes (Cambridge, England: Icon Books, Ltd., 1993) Paul Krugman, Peddling Prosperity (New York: W.W. Norton and Company, 1994) Online sources: History lecture notes: http://www.marshall.edu/history/mccarthy/hst331/lecture/greatdep.1 Gary H. Stern (President, Federal Reserve Bank of Minneapolis), "Achieving Economic Stability: Lessons From the Crash of 1929," 1987 Annual Report Essay, http://woodrow.mpls.frb.fed.us/pubs/ar/ar1987.html Office of Management and Budget, Budget of the United States Government, Fiscal Year 1997, Historical Tables 1.2 and 10.1, http://www.doc.gov/BudgetFY97/histtoc.html |
