The federal government collected revenues of $4.9 trillion in 2022—equal to 19.6 percent of gross domestic product (GDP) (figure 2). Over the past 50 years, federal revenue has averaged 17.4 percent ...

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The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...

General sales taxes are taxes on goods and services purchased by consumers, and the tax is a calculated as a percentage of the listed retail cost and added to the final purchase price paid by the ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

Average tax rates measure tax burden, while marginal tax rates measure the impact of taxes on incentives to earn, save, invest, or spend an additional dollar. The average tax rate is the total amount ...

Various forms of state-sanctioned gambling, including lotteries, casinos, parimutuel wagering (e.g., horse racing), sports betting, and video games (e.g., video poker), are taxed. State and local ...

The United States imposes a tax on the profits of US resident corporations at a rate of 21 percent (reduced from 35 percent by the 2017 Tax Cuts and Jobs Act). The corporate income tax raised $424.7 ...

The individual income tax (or personal income tax) is a tax levied on the wages, salaries, dividends, interest, and other income a person earns throughout the year, generally imposed by the state in ...

State and local governments levy taxes on various tobacco products, including cigarettes, chewing and smokeless tobacco (often referred to as "other tobacco products"), and vaping products. State and ...

Fines, fees, and forfeitures are financial penalties imposed for violations of the law. State and local governments collected a combined $13 billion in revenue from fines, fees, and forfeitures in ...

Tax expenditures make up a substantial part of the federal budget. Some of them are larger than the entire budgets of the programs or departments that spend money for the same or related purposes. For ...