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Number of Taxpayers and Taxable Income Grew Faster During Bush's Expansion than Clinton's

Created on September 6, 2011

Number of Taxpayers and Taxable Income Grew Faster During Bush's Expansion than Clinton's

Number of Taxpayers and Taxable Income Grew Faster During Bush’s Expansion than Clinton’s

CHANGE IN INCOME

TAX RETURNS

CHANGE IN TAXABLE INCOME

Note: Figures have been rounded.

During the Clinton-era economic expansion, the number of taxpayers and taxable income grew at an impressive rate in the four years before the 2001 recession. But in the four years of expansion during the Bush years before the 2007 recession, both measures grew even faster.

Chart 3 • B 2601

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+44.4%

2001: $5.94 trillion

2003–2007

1997: $4.12 trillion

+23.6%

2001: $4.22 trillion

1997–2001

1997: $3.41 trillion

+9.6%

2007: 143 million

2003: 130.4 million

+6.4%

2001: 130.3 million

1997: 122.4 million

Source: U.S. Department of  Treasury, Internal Revenue Service, “SOI Tax Stats–Individual Income Tax Returns Publication 1304,” Table 1.1, “Selected Income and Tax Items, 2007, 2003, 2001, and 1999,” at http://www.irs.gov/taxstats/indtaxstats/article/0,,id=134951,00.html (July 12, 2011).