Tuesday, October 21, 2014

Where revenue comes from

Not sure if I posted something similar before. At any rate, no surprises. Before the New Deal excise and other indirect taxes were the vast majority of the administration's revenue. Since then the individual income tax become the central source of revenue. Since the 1970s corporate income taxes fell, and were essentially compensated by higher payroll taxes. In other words, first more progressive, then more regressive. Updated data here.

1 comment:

  1. What the heck is being counted as (tiny) Social Insurance and Retirement Receipts in 1934, a year before the Social Security Act? And what is going on with the same during the WW2 years? Was there some strange exemption or accounting trick that reduced payroll contributions for employees of the military, or does it just look small because overall tax revenues increased so much and payroll taxes didn't? And I'm guessing "Other" is tariff revenue? Lots of food for thought.


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