Composition of Revenues 1981 - 2031
Most federal revenues come from individual income and payroll taxes
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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
The Foundation's assessment: The President's budget includes some policies that would begin to address the fundamental drivers of our long-term deficits, but its proposals are too modest to put the budget on a plausible and sustainable path for the long run.
https://www.pgpf.org/press-release/2013/04/pgpf-analysis-of-president-obamas-fiscal-year-2014-budget
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 Peter G. Peterson Foundation releases a statement on the agreement to raise the debt ceiling.
Peter G. Peterson releases a statement on the 2013 State of the Union address.
“Today’s budget represents a dramatically worse outlook than what was released just last May," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/02/peterson-foundation-statement-on-presidents-budget
The Bipartisan Policy Center proposal is the first in a series of reports that will be released over the next several months that examines different ways to bring the budget back into balance and reduce the country’s mounting debt burden.
https://www.pgpf.org/press-release/restoring-america%E2%80%99s-future
The Peterson Foundation’s 2012 Fiscal Summit–America's Case For Action convenes the nation's leading fiscal policy experts and elected officials at a critical moment of opportunity to make progress on America's long-term fiscal challenges.