The federal government gets the majority of its revenue from the ____ tax.

Question

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The federal government gets the majority of its revenue from the income tax, which is collected on the earnings of individuals and corporations. According to the Congressional Budget Office, individual income taxes account for about 47% of federal revenue, while payroll taxes (which fund social security and Medicare) account for an additional 35%. Excise taxes (taxes on specific goods or activities), sales taxes, property taxes, and estate taxes do not provide nearly as much revenue as income taxes.

The Federal Government Gets the Majority of Its Revenue from the ____