Date: 2024-11-21 Page is: DBtxt003.php L0900-MBF-Public-finance-US-revenues-01a
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MONEY, BANKING AND FINANCE
PUBLIC FINANCE ... US REVENUE SOURCES |
| Corporate taxes going down ... Individual taxes going up |
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US Federal Government Revenues
During the past 70 years (since 1952), the total amount of revenue flowing into the United States' Federal government has remained more or less the same as a percentage of GDP. Over time a bigger percentage of this revenue has come from individual taxation while a small percentage has come from corporate taxation. The impact of this is that more and more of the cost of government has been carried by those that work and less and less carried by the owner class This, of course, is one of the underlying causes of growing inequality over a period of several decades ... and especially since 1980. |