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As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
Despite recent declines, U.S. household debt is still very high relative to disposable income.
The federal government collects revenue from a variety of sources.
The U.S. personal saving rate has fallen sharply over the past 40 years and remains low.
The U.S. national saving rate has declined significantly since the mid-1960s.
Debt levels have risen in many sectors of the economy.
8 million people — roughly the population of Massachusetts — have student debt greater than $50,000.
The Administration uses rosy economic assumptions.