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Q: What is the single largest source of revenue for the federal government?
A: By far the largest source of revenue for the United States federal government (as opposed to state and local governments) is income tax and payroll taxes from private individuals. Between them, [ these two kinds of taxes (payroll taxes are taken our for things like Social Security and Medicare - they are taken straight out of your paycheck without you asking for it to happen) make up eighty
percent of the government's revenues. The next biggest source of revenue is corporate income taxes (those paid by businesses and not by individuals). This makes up about 12% of the total. ]
Expert answered|tabachoy|Points 10|
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Asked 12/17/2013 6:26:12 AM
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