In February, the US government paid 63% of Americans’ personal income tax on interest alone on our US debt. Personal income tax is half of what the government takes in. That isn’t good.
About 50 percent of federal revenue comes from individual income taxes, 7 percent from corporate income taxes, and another 36 percent from payroll taxes that fund social insurance programs. The rest comes from a mix of sources.
In 2023, the total revenues of the U.S. government totaled around 4.44 trillion U.S. dollars. Revenues consist of individual and corporate income taxes, payroll taxes, and other taxes. Individual income taxes amounted to 2.18 trillion U.S. dollars in 2023, whereas corporate income taxes totaled 420 billion U.S. dollars. Don’t worry, as long as there is enough money for the “newcomers” most of us call illegal aliens. That is what they are. They are aliens coming illegally.
I’m not an economist, but this […]
Read the Whole Article From the Source: www.independentsentinel.com
