From 1789 to 1849, US federal government revenue totaled $1.160
billion. Outlays totaled $1.090 billion. For the first 60 years the average
revenue was $166 million a year.
Revenue came from Tariffs, Fees and land sales. The Revolutionary War in 1789 added to the
National Debt. The Louisiana Purchase in 1802 added $15,000,000 to the National
Debt. The War of 1812 ended in 1815. The Mexican War 1846 ended in 1848.
From 1850 to 1900, US federal revenue totaled $14.462 billion outlays
totaled $15.453 billion. Revenue came
from Tariffs, Fees and land sales. The Civil War 1860 ended in1865. The Indian
Wars ended in the 1870s.
From 1901 to 1913 US federal revenue ranged from Increased from
$588 million per year to $714 million per year. Revenue came from Tariffs and
Fees. Corporate Taxes were levied in 1901 at 1%. Income Taxes and Inheritance
Taxes were established in 1913.
In 1913, Congress delegated its power to “coin money” to the
Federal Reserve Bank, tasked with printing money and lending it to other banks
and maintaining the money supply. The US Treasury still managed selling
Treasury Securities to cover US government debt. The private companies who
built the US economy were doomed to become public companies because of the Inheritance
Tax. They could no longer use their profits as working capital to fund
expansion. They would be forced to borrow from the banks.
From 1914 to 1916 federal revenue ranged from $725,000,000 to
$761,000,000 Revenue came from Tariffs, Fees, Corporate Tax, Income Tax and
Inheritance Tax. World War I began in Europe in 1914.
In 1917, federal revenue rose to $1,101 000,000. The US joined
the Allies in World War I in 1917.
In 1918 federal revenue tripled to $3,645,000,000 and increased
again to $5,130,000,000 in 1919.
From 1919 to1931, federal revenue ranged from $3.7 million to
$4.0 million. In 1932 federal revenue dropped to $1,924,000 and climbed back to
$3.6 million by 1935.
1789-1849 average $193,333,333. ($193 million)
1950-1900 average $361,550,000
($362 million)
US Federal Revenue by Year
1901 $588,000,000
1902 $562,000,000
1903 $562,000,000
1904 $541,000,000
1905 $544,000,000
1906 $595,000,000
1907 $666,000,000
1908 $602,000,000
1909 $604,000,000
1910 $676,000,000
1911 $702,000,000
1912 $693,000,000
1913 $714,000,000
1914 $725,000,000
1915 $683,000,000
1916 $761,000,000
1917 $1,101,000,000 ($1 billion)
1918 $3,645,000,000
1919 $5,130,000,000
1920 $6,649,000,000
1921 $5,571,000,000
1922 $4,026,000,000
1923 $3,853,000,000
1924 $3,871,000,000
1925 $3,641,000,000
1926 $3,795,000,000
1927 $4,013,000,000
1928 $3,900,000,000
1929 $3,862,000,000
1930 $4,058,000,000
1931 $3,116,000,000
1932 $1,924,000,000
1933 $1,997,000,000
1934 $2,955,000,000
1935 $3,609,000,000
In 1936, the US was recovering from the Depression. Government
had used excess labor to build hydroelectric plants. World War II was eminent
and the US was preparing for War Production. Federal revenue rose from
$3,923,000 in 1936 to $8,712,000 in 1941.
1936 $3,923,000,000
1937 $5,387,000,000
1938 $6,751,000,000
1939 $6,295,000,000
1940 $6,548,000,000
1941 $8,712,000,000
In 1941, the US entered World War II in Asia and Europe,
continued to supply War Materials to Allies and federal revenue doubled and
tripled.
1942 $14,634,000,000
1943 $24,001,000,000
1944 $43,747,000,000
1945 $45,159,000,000
1946 $39,296,000,000
1947 $38,514,000,000
1948 $41,560,000,000
1949 $39,415,000,000
1950 $39,443,000,000
1951 $51,616,000,000
1952 $66,167,000,000
1953 $69,608,000,000
1954 $69,701,000,000
1955 $65,451,000,000
1956 $74,587,000,000
1957 $79,990,000,000
1958 $78,636,000,000
1959 $79,249,000,000
1960 $92,492,000,000
1961 $94,388,000,000
1962 $99,676,000,000
1963 $106,560,000,000 ($106 billion)
1964 $112,613,000,000
1965 $116,817,000,000
1966 $130,835,000,000
1967 $148,822,000,000
1968 $152,973,000,000
1969 $186,882,000,000
1970 $192,807,000,000
1971 $187,139,000,000
1972 $207,309,000,000
1973 $230,799,000,000
1974 $263,224,000,000
1975 $279,090,000,000
1976 $298,060,000,000
1977 $355,559,000,000
1978 $399,561,000,000
1979 $463,302,000,000
1980 $517,112,000,000
1981 $499,272,000,000
1982 $617,766,000,000
1983 $600,562,000,000
1984 $666,438,000,000
1985 $734,037,000,000
1986 $769,155,000,000
1987 $854,287,000,000
1988 $909,238,000,000
1989 $991,104,000,000
1990 $1,031,958,000,000 ($1.03 trillion)
1991 $1,054,988,000,000
1992 $1,091,208,000,000
1993 $1,154,344,000,000
1994 $1,258,566,000,000
1995 $1,351,790,000,000
1996 $1,453,053,000,000
1997 $1,579,232,000,000
1998 $1,721,728,000,000
1999 $1,827,452,000,000 (Debt $5 trillion)
2000 $2,025,191,000,000 ($2.03 trillion)
2001 $1,991,082,000,000
2002 $1,835,136,000,000
2003 $1,782,314,000,000
2004 $1,880,114,000,000
2005 $2,153,611,000,000
2006 $2,406,869,000,000
2007 $2,567,985,000,000
2008 $2,523,991,000,000 (Debt $10 trillion)
2009 $2,104,989,000,000 (deficit $1.4 trillion)
2010 $2,162,706,000,000 (deficit $1.3 trillion)
2011 $2,303,466,000,000 (deficit $1.3 trillion)
2012 $2,449,988,000,000 (deficit $1.1 trillion)
2013 $2,775,103,000,000 (deficit $680 billion)
2014 $3,021,487,000,000 ($3.02 trillion)
2015 $3,249,886,000,000
2016 $3,335,502,000,000 (Debt $20 trillion)
2017 $3,643,742,000,000
2018 $3,898,625,000,000
2019 $4,095,454,000,000 ($4.10 trillion)
Norb
Leahy, Dunwoody GA Tea Party Leader
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