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As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries
The composition of federal revenues has been relatively constant since the mid-1970s.
Some lawmakers favor substantial increases to marginal tax rates. Let’s look at how marginal tax rates and brackets work.
The top 1 percent of taxpayers receive 28 percent of the benefit from individual income tax expenditures.
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
The top 1 percent of taxpayers generate 26 percent of individual income tax revenues.
The federal government collects revenue from a variety of sources.
Six popular tax provisions accounted for a large majority of annual tax expenditures for individuals.
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.