April 20, 2014

Federal Government Income

Go to Spending

Fiscal Year 2013

Income Category $ Billions % of Outlays
Individual Income Taxes 1316 38
Social Security and Medicare Taxes and Contributions 948 27
Corporate Income Taxes 2748
Other Taxes 236 7
Totals 2,774 80%
Deficit 680 <20>%

Source:  Final Monthly Treasury Statement September 2013
* Percentage column numbers might be altered to allow total to equal 100%

  • "Other Taxes" includes excise taxes, estate and gift taxes, customs duties and other miscellaneous receipts.
  • Income figures are represented as a percentage of outlays. FY2013 income was 80% of outlays, which is another way of saying we had a 20% deficit. The federal government collected $2 trillion, 774 billion and borrowed $680 billion on the open market by selling U.S. Treasury securities, to pay for $3 trillion, 454 billion in spending.

This budget exercise was developed by the Concord Coalition.
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