Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/22/2014 (2 years ago)

Catholic Online (

Under plan, taxes would rise from 17.6 percent of GDP in 2014 to 19.2 percent in 2024

President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people. According to the analysis published last week by the Congressional Budget Office, the plan was included in the budget proposal Obama presented to Congress last month.

Under Obama's budget proposal, according to the CBO, the budget will never balance.

Under Obama's budget proposal, according to the CBO, the budget will never balance.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

4/22/2014 (2 years ago)

Published in Politics & Policy

Keywords: President Obama, taxation, budget, proposal

LOS ANGELES, CA (Catholic Online) - Taxes would rise from 17.6 percent of Gross Domestic Product, or GDP in 2014 to 19.2 percent in 2024. During the ten years from 2015 to 2024, federal taxation would average 18.7 percent GDP. To date, the United States has never been subjected to a ten-year stretch of taxation at that level.

In the twelve fiscal years preceding the Japanese attack on Pearl Harbor, the years of 1930 through 1941, federal taxation averaged 5.3 percent of GDP. In the five fiscal years encompassing U.S. involvement in World War II, the years of 1942 through 1946, federal taxation averaged 16.1 percent of GDP.

Check out our fine selection of Bibles -- by going here!

Experts point out that in the fiscal years since World War II, or 1947 through 2013, federal taxation has averaged 17.1 percent of GDP.

Through the fiscal years of 1992 through 2001, federal taxes averaged 18.3 percent of GDP. In the last four years of that period, or 1998 through 2001, the federal budget was balanced.

In the twelve fiscal years from 2002 through 2013, federal taxes averaged 16.1 percent of GDP-the same that they averaged during World War II.

In all ten years from 2015 through 2024, under Obama's proposal, federal taxes would be higher than 18.3 percent of GDP. During the period of 1992 through 2011, there were only five straight years, or 1997-2001 when federal taxes were higher than 18.3 percent of GDP.

Under Obama's budget proposal, according to the CBO, the budget will never balance.

"The President's budget would make a number of changes to the tax law," the report says. "If enacted, those changes would boost revenues by $32 billion in 2015, and by $1.4 trillion, or about three percent, during the 2015-2024 period."


Pope Francis: end world hunger through 'Prayer and Action'

Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for SEPTEMBER 2016
Centrality of the Human Person: That each may contribute to the common good and to the building of a society that places the human person at the center.
Evangelization: Mission to Evangelize: That by participating in the Sacraments and meditating on Scripture, Christians may become more aware of their mission to evangelize.


More Politics & Policy

Justice Clarence Thomas: 'The city is broken in some ways' Watch

Image of Justice Clarence Thomas has served on the Supreme Court for 25 years.

By Marshall Connolly (CALIFORNIA NETWORK)

Justice Clarence Thomas spoke about some of the problems he sees in Washington.  He delivered his remarks at a dinner by the Heritage Foundation celebrating his 25 years on the bench. LOS ANGELES, CA (California Network) - "This city is broken in some ways," ... continue reading

How important is the Supreme Court in this year's presidential election? Watch

Image of How important is the US Supreme Court during this year's elections (EJI)?

By Matt Hadro (CNA/EWTN News)

Both major presidential candidates say that the future of the Supreme Court depends on this election - but how important is the Court to Catholics, and will the next president really shape it? LOS ANGELES, CA (Catholic Online) - "It is certainly one of the most ... continue reading

The secret genius of Donald Trump and the favor he's done the GOP Watch

Image of Donald Trump has done the GOP a favor, they just don't know it yet.


Donald Trump may be among the most maligned presidential candidates in recent history. He is roundly detested and despised. He gets no affection from the media and even many of his supporters are keeping to themselves. Yet, he has a strange allure that has enabled him ... continue reading

Americans are sick of politics on social media. Here's the REAL REASON why Watch

Image of Americans are tired of politics on social media.

By Marshall Connolly (CALIFORNIA NETWORK)

Americans are sick and tired of politics, and one another, on social media. A new study from Pew Research shows that Americans are "worn out" by all the politics on social media. LOS ANGELES, CA (California Network) - Americans are fed up with the current election ... continue reading

No matter what, Donald Trump won the third debate -- bigly Watch

Image of The third presidential debate resulted in a Trump victory as the Republican nominee soft-launched his own television network.

By Marshall Connolly (CALIFORNIA NETWORK)

The third and final presidential debate between Clinton and Trump was surprising because it stuck mostly to the issues. However, there were some cringeworthy moments from both candidates. Snap polls following the debate hand the win to Trump, but pundits say Clinton is ... continue reading

Trump Catholic Advisory Group Demands Vice President Biden Denounce Anti-Catholic Bigotry and Call Cardinals Dolan and O'Malley to Apologize

Image of The Catholic Advisory Board to the Trump Pence campaign includes our own Editor-in-Chief, Deacon Keith Fournier.

By Catholic Advisory Group to Donald Trump.

The Catholic Advisory Board to the Donald Trump/Pence campaign has issued a statement regarding the absolute lack of apology for the anti-Catholic bigotry in the Clinton camp exposed by WikiLeaks. At this point, any Catholic who casts a ballot for Clinton is also ... continue reading

Ken Blackwell:Trumped Up. Time to Focus on the Real Issues

Image of Election 2016

By Ken Blackwell

The essential question this year is not who is the more congenial personality, but who is more likely to address the range of pressing issues facing America? Under whom are Americans likely to be safer? More prosperous? Better educated? Allowed to practice their ... continue reading

FATE OF A NATION: Catholics called to prayer as election looms Watch

Image of The Rosary is a powerful tool in the fight against evil.


The Trump/Pence campaign has asked for prayers as the nation moves closer to the election. A lot is at stake. Hillary Clinton and her team have promised to destroy the Catholic Church in America, describing Catholics as 'backwards.' Catholics need to unite in prayer to ... continue reading

RIGGED ELECTION? If Clinton is willing to 'destroy the Catholic Church' to get her way, then what will she do to democracy? Watch

Image of Praying to destroy the Church perhaps?

By Marshall Connolly (CALIFORNIA NETWORK)

As WikiLeaks reveals the corruption of the Clinton camp and the DNC, Republican presidential nominee, Donald Trump has expressed concerns that he could be running in a rigged election. The idea of a rigged election is catching on with Americans who are becoming ... continue reading

NEW WIKILEAKS: Guess who has disturbing ties to Putin? HINT: it isn't Trump Watch

Image of Via Podesta, the Clinton camp is remarkably close to Putin, something they accuse Trump of being.


Much has been made of Donald Trump's statements about Russia and Vladimir Putin. However, leaked emails suggest the Clinton camp may also be cozy with the Russians. New information reveals that Clinton chair John Podesta has a lot of shares in a Putin-linked company. ... continue reading

All Politics & Policy News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Ephesians 6:10-20
10 Finally, grow strong in the Lord, with the strength of his ... Read More

Psalm, Psalms 144:1, 2, 9-10
1 [Of David] Blessed be Yahweh, my rock, who trains my hands for war and ... Read More

Gospel, Luke 13:31-35
31 Just at this time some Pharisees came up. 'Go away,' they said. 'Leave ... Read More

Saint of the Day

Saint of the Day for October 27th, 2016 Image

St. Frumentius
October 27: Called "Abuna" or "the fa¬≠ther' of Ethiopia, ... Read More