Report post

What are the sources of revenue for the federal government?

Over half of federal revenue comes from individual income taxes, 9 percent from corporate income taxes, and another 30 percent from payroll taxes that fund social insurance programs (figure 1). The rest comes from a mix of sources.

What is the primary source of US tax revenue?

Individual income taxes (federal, state, and local) are the primary source of US tax revenue. Explore sources of US tax revenue by tax type.

What percentage of government revenue comes from income tax?

Roughly 80 percent comes from the individual income tax and the payroll taxes that fund social insurance programs (figure 1). Another 11 percent comes from the corpo-rate income tax, and the rest is from a mix of sources. In fiscal year (FY) 20141 the federal government collected revenues of $3 trillion— about 17.5 percent of GDP.

The World's Leading Crypto Trading Platform

Get my welcome gifts