Top One Percent Individual Income Tax Revenue
The top 1 percent of taxpayers generate 30 percent of individual income tax revenues.
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The top 1 percent of taxpayers generate 30 percent of individual income tax revenues.
The top 1 percent of taxpayers receive 19 percent of the benefit from individual income tax expenditures.
Corporate tax revenues are substantially lower than they were before the tax rate was reduced by the TCJA.
https://www.pgpf.org/chart-archive/0304_corporate_tax_reduced_tcja
While there is disagreement on specific remedies, there is broad consensus that our current tax code is broken.
https://www.pgpf.org/analysis/2013-fall-fiscal-agenda-%E2%80%94-tax-reform
Most federal revenues come from individual income and payroll taxes
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
https://www.pgpf.org/chart-archive/0054_tax-expenditures-comparison
Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
The federal government collects revenue from a variety of sources.