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$6.27 T
$150.61 B
MEDICARE
NATIONAL DEFENSE
INCOME SECURITY
HEALTH
SOCIAL SECURITY
EXCISE TAXES
CORPORATE INCOME TAXES
CUSTOMS DUTIES
SOCIAL SECURITY AND MEDICARE TAXES
INDIVIDUAL INCOME TAXES
11%
12%
14%
15%
15%
19%
1%
3%
3%
39%
51%
Federal Government Outlays
Federal Government Revenue
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Transcript

Federal Government Revenue

Federal Government Outlays

51%

39%

3%

3%

1%

19%

15%

15%

14%

12%

11%

INDIVIDUAL INCOME TAXES

Most of the Federal Government's revenue comes from individual taxpayers—businesses, corporations, and individual taxpayers.

SOCIAL SECURITY AND MEDICARE TAXES

Social Security taxes are collected from people's paychecks (usually matched by one's employer), then divided into separate trust funds to support Social Security.

CUSTOMS DUTIES

When commodities are transferred over international borders, a tariff or tax known as customs duty is levied.

CORPORATE INCOME TAXES

Corporate income taxes are placed on the profits of a corporation.

EXCISE TAXES

An excise tax is typically imposed on the sale of particular specific goods or services, or on certain usage.

SOCIAL SECURITY

Social Security is part of the government's mandatory spending, meaning the is required by law to fund for it.

HEALTH

The government funds the Department of Health and Human Services. About $1.64 T was spent on this program in fiscal year 2022.

INCOME SECURITY

Income security is funded by the government to ensure that basic needs of consumption are met for those unable to do so for themselves. Some programs funded are Food Stamps, Supplemental Security Income, and Temporary Assistance for Needy Families.

NATIONAL DEFENSE

National defense is programs that support military and help guard the country against any threats, both internal and external, to the nation's security and peace.

MEDICARE

Medicare is a government health insurance program available to anyone who is 65 years of age or older, as well as younger people with disabilities and those who have end-stage renal disease.

$150.61 B

$6.27 T

Click on the words for a description on the revenue/outlay.

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