Chart and statistics of US federal receipts by source, in billion USD constant (2009=100), 1934-2019. Total US budget receipts grew from constant (FY2009) USD 38.1 billion in 1934 to 2,603.6 in 2013, and to 3,929.7 billion in 2019, at an annual average rate of 5.61%. One might say tongue in cheek that US taxpayers are wealthier than the nation, since the US GDP lagged behind, with an average annual growth rate of 3.81%, almost 2 percent points slower. Among taxpayers, individuals, and particularly individual workers are the most generous. The total amount of income taxes and payroll taxes (social insurance and retirement receipts) were only 0.67% of GDP in 1934, grew up to 13.5% of GDP in 2013, and should ascend to 15.14% of GDP in 2019. Meanwhile, corporate taxes, which at 0.67% of GDP were roughly at par with individual taxes by 1934, represented only 1.63% by 2013, and are expected to reach a modest 2.32% by 2019. Excise taxes and other receipts are comparatively minor contributors to total receipts.

Total US budget receipts grew from constant (FY2009) USD 38.1 billion in 1934 to 2,603.6 in 2013, and to 3,929.7 billion in 2019, at an annual average rate of 5.61%. One might say tongue in cheek that US taxpayers are wealthier than the nation, since the US GDP lagged behind, with an average annual growth rate of 3.81%, almost 2 percent points slower.

Among taxpayers, individuals, and particularly individual workers are the most generous. The total amount of income taxes and payroll taxes (social insurance and retirement receipts) were only 0.67% of GDP in 1934, grew up to 13.5% of GDP in 2013, and should ascend to 15.14% of GDP in 2019. Meanwhile, corporate taxes, which at 0.67% of GDP were roughly at par with individual taxes by 1934, represented only 1.63% by 2013, and are expected to reach a modest 2.32% by 2019. Excise taxes and other receipts are comparatively minor contributors to total receipts.

In a nutshell, the awkwardness of the US tax situation becomes obvious from a couple of simple ratios. Each year, federal government snatches a growing chunk of all wealth produced by the nation by means of taxes on individual incomes (9% of GDP) and on workers' remunerations (6% of GDP). Government is rather lenient towards corporations, whose tax contribution is only 3.2% of GDP. What do people get in return? Less and less every year: less educational support, less food support, less housing, less transportation, less health care, less legal assistance.

"When I meet a government which says to me "Your money or your life," why should I be in haste to give it my money? It may be in great strait, and not know what to do: I cannot help that. It must help itself: do as I do." — you'll have recognized the voice of the early 19th century blunt speaker Henry David Thoreau.

 

US Budget, Receipts by Source: 1934-2019
(million USD)

Fiscal Year

Individual Income Taxes

Corporate Income Taxes

Social Insurance and Retirement Receipts (Payroll Taxes)

Excise Taxes ¹

Other ²

Total Receipts

GDP
(Gross Domestic Product)

Current USDConstant USD ³Current USDConstant USD ³Current USDConstant USD ³Current USDConstant USD ³Current USDConstant USD ³Current USDConstant
USD ³		Current USDConstant
USD ³
19344205,4153644,693303871,35417,45778810,1602,95538,10067861,269
19355276,6585296,684313921,43918,1811,08413,6963,60945,59774938,724
19366748,4177198,979526491,63120,36784710,5773,92348,989851,060,190
19371,09213,0721,03812,4255806,9431,87622,4568019,5885,38764,484931,113,239
19381,28615,8451,28715,8581,54118,9871,86322,9557739,5246,75183,181871,076,885
19391,02912,7991,12714,0171,59319,8131,87123,2716758,3966,29578,296941,162,935
194089210,9611,19714,7091,78521,9341,97724,2936988,5776,54880,4621031,264,438
19411,31415,1242,12424,4481,94022,3302,55229,3747818,9898,712100,2761291,489,411
19423,26334,7984,71950,3252,45226,1493,39936,2488018,54214,634156,0631661,770,289
19436,50566,3579,55797,4913,04431,0524,09641,7838008,16124,001244,8332032,071,815
194419,705196,34314,838147,8483,47334,6054,75947,4199729,68543,747435,9012252,237,943
194518,372178,42115,988155,2693,45133,5156,26560,8431,08310,51845,159438,5652282,216,179
194616,098138,43011,883102,1843,11526,7866,99860,1771,20210,33639,296337,9142281,958,896
194717,935139,0318,61566,7833,42226,5277,21155,8991,33110,31838,514298,5582501,937,209
194819,315141,8349,67871,0683,75127,5447,35654,0171,46110,72841,560305,1842752,017,917
194915,552114,40311,19282,3303,78127,8147,50255,1861,38810,21039,415289,9442732,006,768
195015,755114,50710,44975,9434,33831,5287,55054,8731,3519,81939,443286,6713002,181,845
195121,616146,74814,10195,7305,67438,5208,64858,7101,57810,71351,616350,4143472,357,773
195227,934186,40121,226141,6396,44543,0078,85259,0681,71011,41166,167441,5253682,453,623
195329,816196,53321,238139,9916,82044,9549,87765,1041,85712,24069,608458,8233902,568,717
195429,542192,92121,101137,7987,20847,0719,94564,9451,90512,44069,701455,1753912,554,039
195528,747184,58317,861114,6857,86250,4829,13158,6301,85011,87965,451420,2584262,736,612
195632,188199,85120,880129,6419,32057,8679,92961,6482,27014,09474,587463,1014502,794,611
195735,620214,05021,167127,1989,99760,07510,53463,3012,67216,05779,990480,6804752,853,795
195834,724204,04320,074117,95711,23966,04210,63862,5102,96117,39979,636467,9524822,832,295
195936,719212,81417,309100,31911,72267,93810,57861,3082,92116,92979,249459,3085233,028,283
196040,715232,75021,494122,87214,68383,93611,67666,7473,92322,42692,492528,7375433,105,814
196141,338233,73320,954118,47816,43992,94911,86067,0593,79621,46394,388533,6885633,185,005
196245,571254,54420,523114,63417,04695,21312,53470,0114,00122,34899,676556,7566053,379,880
196347,588262,84521,579119,18819,804109,38413,19472,8754,39524,275106,560588,5676393,527,202
196448,697264,90223,493127,79721,963119,47513,73174,6944,73125,736112,613612,5936863,730,621
196548,792260,64125,461136,01022,242118,81414,57077,8315,75330,732116,817624,0227443,972,756
196655,446288,09130,073156,25625,546132,73413,06267,8696,70834,854130,835679,8048154,234,646
196761,526310,65933,971171,52732,619164,70113,71969,2706,98735,279148,822751,4378624,350,921
196868,726332,86228,665138,83433,923164,30014,07968,1897,58036,712152,973740,8979434,564,828
196987,249402,75636,678169,31239,015180,10015,22270,2678,71840,244186,882862,6781,0204,708,028
197090,412396,45732,829143,95544,362194,52815,70568,8669,49941,653192,807845,4591,0764,717,825
197186,230359,83126,785111,77247,325197,48416,61469,32910,18542,501187,139780,9171,1684,873,143
197294,737378,87232,166128,63852,574210,25415,47761,89612,35549,410207,309829,0701,2825,128,574
1973103,246391,58836,153137,12063,115239,38016,26061,67012,02645,612230,799875,3661,4295,417,963
1974118,952413,97638,620134,40575,071261,26216,84458,62013,73747,807263,224916,0721,5495,390,130
1975122,386389,82640,621129,38784,534269,25916,55152,71914,99847,772279,090888,9631,6895,379,519
1976131,603397,36441,409125,03190,769274,06916,96351,21817,31752,287298,060899,9671,8785,669,253
1977157,626448,14554,892156,063106,485302,74617,54849,89119,00854,041355,5591,010,8862,0865,930,685
1978180,988480,80159,952159,265120,967321,35318,37648,81719,27851,213399,5611,061,4482,3576,260,394
1979217,841534,57965,677161,171138,939340,95518,74546,00022,10154,236463,3021,136,9372,6326,459,141
1980244,069549,39664,600145,414157,803355,21224,32954,76426,31159,226517,1121,164,0112,8636,443,444
1981285,917588,64661,137125,869182,720376,18440,83984,07928,65959,003599,2721,233,7813,2116,610,599
1982297,744577,18049,20795,388201,498390,60636,31170,38933,00663,982617,7661,197,5463,3456,484,317
1983288,938538,83237,02269,041208,994389,74735,30065,83030,30956,522600,5621,119,9713,6386,784,589
1984298,415537,44356,893102,464239,376431,11437,36167,28734,39261,940666,4381,200,2494,0417,277,262
1985334,531583,80361,331107,031265,163462,74735,99262,81137,02064,605734,0371,280,9974,3477,585,599
1986348,959596,94063,143108,014283,901485,65032,91956,31240,23368,824769,1551,315,7404,5907,851,962
1987392,557654,81883,926139,996303,318505,96032,45754,14142,02970,108854,2881,425,0254,8708,123,905
1988401,181646,56694,508152,314334,335538,83335,22756,77443,98770,892909,2381,465,3785,2538,465,382
1989445,690691,421103,291160,240359,416557,58034,38653,34548,32174,963991,1051,537,5505,6588,777,071
1990466,884698,45893,507139,886380,047568,55035,34552,87656,17484,0361,031,9581,543,8075,9808,945,471
1991467,827677,33398,086142,012396,016573,36342,40261,39150,65773,3431,054,9881,527,4416,1748,938,887
1992475,964673,750100,270141,937413,689585,59745,56964,50555,71778,8701,091,2081,544,6586,5399,256,696
1993509,680704,708117,520162,489428,300592,18848,05766,44650,77870,2081,154,3351,596,0396,8799,510,819
1994543,055735,199140,385190,056461,475624,75555,22574,76558,42779,1001,258,5661,703,8737,3099,894,673
1995590,244782,755157,004208,212484,473642,48657,48476,23362,58582,9971,351,7901,792,6827,66410,163,647
1996656,417854,899171,824223,779509,414663,44654,01470,34661,38479,9451,453,0531,892,4158,10010,549,471
1997737,466944,307182,293233,422539,371690,65156,92472,89063,17880,8981,579,2322,022,1688,60911,022,972
1998828,5861,049,587188,677239,001571,831724,35057,67373,05674,96194,9551,721,7282,180,9499,08911,513,351
1999879,4801,098,375184,680230,645611,833764,11370,41487,93981,045101,2161,827,4522,282,2899,66612,071,412
20001,004,4621,226,584207,289253,128652,852797,22168,86584,09391,723112,0062,025,1912,473,03210,29012,565,117
2001994,3391,187,044151,075180,354693,967828,45966,23279,06885,469102,0331,991,0822,376,95710,62512,684,502
2002858,3451,009,177148,044174,059700,760823,90066,98978,76178,99892,8801,853,1362,178,77610,98012,909,681
2003793,699914,885131,778151,898712,978821,83967,52477,83476,33587,9901,782,3142,054,44611,51213,269,936
2004808,959907,597189,371212,461733,407822,83269,85578,37378,52288,0961,880,1142,109,35912,27713,773,953
2005927,2221,007,949278,282302,510794,125863,26473,09479,45880,88887,9302,153,6112,341,11113,09514,235,523
20061,043,9081,100,960353,915373,257837,821883,61073,96178,00397,264102,5802,406,8692,538,40913,85814,615,263
20071,163,4721,195,327370,243380,380869,607893,41765,06966,85199,594102,3212,567,9852,638,29614,48014,876,766
20081,145,7471,154,568304,346306,689900,155907,08567,33467,852106,409107,2282,523,9912,543,42314,72014,833,629
2009915,308915,308138,229138,229890,917890,91762,48362,48398,05298,0522,104,9892,104,98914,41814,417,900
2010898,549887,798191,437189,146864,814854,46666,90966,108140,997139,3102,162,7062,136,82914,95814,779,322
20111,091,4731,057,639181,085175,472818,792793,41172,38170,137139,735135,4032,303,4662,232,06215,53415,052,278
20121,132,2061,078,271242,289230,747845,314805,04679,06175,295151,294144,0872,450,1642,333,44516,24515,470,753
20131,316,4051,235,041273,506256,601947,820889,23784,00778,815153,365143,8862,775,1032,603,57916,80015,761,343
2014 ⁴1,386,0681,288,838332,740309,3991,021,109949,48093,52886,967168,276156,4723,001,7212,791,15617,33216,116,473
2015 ⁴1,533,9421,426,339449,020417,5221,055,744981,686110,539102,785188,180174,9803,337,4253,103,31118,21916,941,345
2016 ⁴1,647,7501,532,164501,701466,5081,127,2711,048,195115,383107,289175,847163,5123,567,9523,317,66719,18117,835,119
2017 ⁴1,780,6771,655,766527,977490,9401,193,8081,110,065118,906110,565189,411176,1243,810,7793,543,46020,19918,782,452
2018 ⁴1,920,0631,785,374539,879502,0081,255,6711,167,588122,096113,531192,147178,6684,029,8563,747,17021,21619,728,018
2019 ⁴2,047,1361,903,533514,373478,2911,313,7231,221,568126,651117,767224,236208,5064,226,1193,929,66522,19620,639,087
Annual average change rate 7.14% 5.59% 9.94% 2.27% 3.62% 5.61% 3.81%
¹ Excise taxes are indirect taxes such as taxes on alcohol, tobacco, fuels, telephone, and include. highway, airport, hazardous substances and other trust funds.
² Other receipts include estate and gift taxes, customs duties and fees and miscellaneous receipts.
³ After applying the GDP deflator (FY2009=100).
⁴ Government estimates.

 

Sources: US Government Printing Office, Bureau of Economic Analysis.

 

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