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Taxing the U.S. economy.


In 1996, the federal government will claim 19.1% in tax
revenues on all U.S. production and income generated by
that production.

Federal tax revenues as a percentage of gross domestic
product in 1996.

Individual income taxs     8.5%
Social insurance taxes     6.7%
Corporate income taxes     2.3%
Excise Taxes               0.7%
Customs duties             0.3%
Miscellaneous              0.4%
Estate and gift taxes      0.2%

Source: Congressional Budget Office, Reducing the Deficit:
Spending and Revenue Options, 1996
COPYRIGHT 1997 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Journal of Accountancy
Article Type:Illustration
Date:Jan 1, 1997
Words:79
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