Trends in Fiscal Federalism, 1954-1974: A Commission Report |
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ACIR staff compilation ACIR staff estimates Amount in billions Annual average increase Annual Percent Change Average Annual Earnings average family average increase 1964 based on U.S. Burdens Between 1953 CALENDAR Census CHART civilian government Current Business Department of Commerce Distribution Annual Percent Domestic Public Sector enterprises & military family income Federal aid Federal Domestic Expenditure Federal general civilian Federal personal income Federal Revenue System FISCAL FEDERALISM Government enterprises Governmental Finances Greatest Wage Gains Increase in Relation Individual Income Tax Internal Revenue Service itemized deductions Mideast Non-school Number Percent Change 1954 percent in 1974 percent of GNP percent of state-local Percentage Distribution Annual personal income tax Property Taxes Public education Register the Greatest Relative Decline Retail trade Security and Federal Social Security Source Revenue South Dakota staff compilation based State-Local Sector Registers state-local tax burdens Survey of Current Table Total Domestic U.S. AVERAGE U.S. Bureau U.S. Department various years National
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Page 17 - A government-administered program for employee retirement and social insurance protection relating to unemployment compensation, workmen's compensation, Old Age, Survivors', Disability, and Health Insurance, and the like. Insurance Trust Revenue comprises amounts from contributions required of employers and employees for financing these social insurance programs, and earnings on assets of such systems. Insurance Trust Expenditure corresponds with the character and object category, Insurance Benefits...
Page 20 - The State and Local Revenue System Becomes More Diversified with the Relative Decline in Property Taxes and Relative Increase in State Income Taxes and Federal Aid: Fiscal Years 1954 and 1974 1954 Source: Table Vll.
Page 15 - Federal aid as reported in the national income accounts differs slightly from the Federal payments (census) series (used in a subsequent table showing Federal aid by major purpose). The major difference is the inclusion of Federal payments for low-rent public housing (estimated at $1.6 billion in 1976) in the census series but excluded by definition from this series.
Page 7 - Estimated itemized deductions were assumed for the $14,000, $20,000, $28,000 and $56,000 families. Interest on state and local debt, dividends, and one-half of capital gains (estimated, based on IRS , Statistics of Income) were exluded from family income for these computations. Residential property tax estimates assume average housing values of approximately 1.8 times family income for the average family in both 1953 ($5,000) and 1975 ($14,000), 1.5 for $10,000 income (1953), 1.4 for $28,000 income...
Page 9 - ACIR staff compilation based on US Department of Commerce, Office of Business Economics, Survey of Current Business, various years; and US Bureau of the Census, Governmental Finances, various years. Advisory Commission on Intergovernmental Relations, "Trends in Fiscal Federalism 1954-74,
Page 2 - ... In Fiscal Federalism: 1954-1974 ACIR issued a report which sets out in charts and tables several significant developments in fiscal federalism 1954-1974. Among the major findings are: • Most of the growth in the expanding Federal sector has occurred in social security and Federal aid programs. • All levels of government have grown at rates exceeding the general growth of the economy, and aids to lower levels of government have steadily expanded. • The Federal revenue system has become less...
Page 21 - ACIR staff compilation based on US Bureau of the Census, Governmental Finances, various years; and ACIR staff estimates.
Page 7 - In computing state personal income tax liabilities, the optional standard deduction was used for the $5,000 and $10,000 families, the average of standard and estimated itemized deductions for the $14,000 family and estimated itemized deductions for the $20,000, $28,000 and $56,000 families. Estimated state-local general sales tax liabilities are based on the amounts allowed by the Internal Revenue Service as deductions in computing Federal personal income taxes. The percentages shown for state-local...
Page 3 - While the direct tax burden of the "average" family increased by 92.4 percent during the period 1953-1975, families earning four times the national average experienced an increase of 46 percent. The "average" family in 1953 had an income of $5,000 and paid 11.8 percent of family income in direct Federal, state, and local taxes. By 1975, the "average" family had an income of $14,000 and paid 22.7 percent.
Page 7 - In computing Federal personal income tax liabilities, deductions were estimated to be 14 percent of family income for the $5,000 family and 12 percent of income for the $10,000 family. Estimated itemized deductions were assumed for the $14,000, $20,000, $28,000 and $56,000 families. Interest on state and local debt, dividends, and one-half of capital gains (estimated, based on IRS , Statistics of Income) were exluded...