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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
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
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates
Revenue from corporate income taxes has been decreasing as a share of GDP
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
The top 1 percent of taxpayers generate 26 percent of individual income tax revenues.
The top 1 percent of taxpayers receive 28 percent of the benefit from individual income tax expenditures.
The composition of federal revenues has been relatively constant since the mid-1970s.
Federal taxes and transfers can help reduce disparities in income.
https://www.pgpf.org/chart-archive/0233_taxes-reduce-disparities
Six popular tax provisions accounted for a large majority of annual tax expenditures for individuals.
https://www.pgpf.org/chart-archive/0009_largest-tax-expenditures
The federal government collects revenue from a variety of sources.
