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
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.
Presently, revenues raised by the corporate income tax represent the third-largest category of federal tax revenue in the United States, trailing those generated from the individual income and payroll taxes.
https://www.pgpf.org/budget-basics/the-us-corporate-tax-system-explained
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.
Federal taxes and transfers can help reduce disparities in income.
https://www.pgpf.org/chart-archive/0233_taxes-reduce-disparities
High income individuals receive a greater portion of their income from capital gains
https://www.pgpf.org/chart-archive/0316_capital_gains_income_group
Our most popular charts from 2016 illustrate the nation's fiscal challenges in areas like defense spending, healthcare, and tax reform.
https://www.pgpf.org/blog/2016/12/top-7-fiscal-charts-from-2016