In between basketball games this weekend, I googled “federal spending charts” and came across a chart from Wikipedia that shows where the federal government got its revenue in 2010.
The text is not real clear, so here is the breakout:
GREEN: Social Security taxes brought in $865 billion, or 40% of total revenue. But this money goes right back out to folks who receive Social Security checks.
BLUE: Individual income tax brought in $899 billion or 42% of total revenue.
Red: Corporate income tax brought in $191 billion or 9% of total revenue. Only 9%??
Other: $140 billion, 6%
Excise tax: $67 billion, 3% of total