As health care continues to represent a larger portion of U.S. gross domestic product, the federal government’s ability to finance that expenditure through tax revenues has relatively declined. Corporate taxes as a percent of GDP peaked at 2.6% in 2007. In the aftermath of the global financial crisis that proportion fell to 1% in 2009 and recovered to 1.9% in 2015. In 2018, the last year for which we have data, it was again at 2009’s level of 1%. … READ MORE >