Federal Budget Percentage is Generated by Personal Income Tax

April 26th, 2011 Posted by Admin Issu

Personal budget issues : I am in a discussion about flat taxes and National sales tax. One of the areas of discussion is How much of the governments income is generated by personal income tax payments

The answer about Federal Budget Percentage is Generated by Personal Income Tax

Answer by Steve D
IN 2005, personal income taxes generated 43% of total federal government receipts (not budget, since the budget is in deficit).

Source: http://www.house.gov/jct/x-2-07.pdf (page 17).

By 2007, this had risen to 45% of total receipts.

Source: http://www.house.gov/jct/x-32-08.pdf (page 16)

Answer by Charles G
(2007 numbers)

Federal income tax individual brings in 1,366,241,000,000 dollars, the corporate income tax 395,536,000,000. Total about 2,691,538,000,000.

Simple answer, more than half for personal and corporate income tax.

Employment taxes were 849,733,000,000, (at 15.3% of employment wages, roughly)

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