Go to Spending
Fiscal Year 2014
|Income Category||$ Billions||% of Outlays|
|Individual Income Taxes||1395||40|
|Social Security and Medicare Taxes and Contributions||1024||29|
|Corporate Income Taxes||321||9|
Source: Final Monthly Treasury Statement September 2014
* Percentage column numbers might be altered to allow total to equal 100%
Income figures are represented as a percentage of outlays. FY2014 income from taxes paid for 86% of outlays, which is another way of saying we borrowed money on the open market by selling US Treasury securities to cover 14% of our spending. That spending totaled $3 trillion, 504 billion.
- "Other Taxes" includes excise taxes, estate and gift taxes, customs duties and other miscellaneous receipts.
This budget exercise was developed by the Concord Coalition.
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