Which of the following taxes contributed the greatest percentage of total federal government tax revenues in recent years?
A) Individual income taxes.
B) Corporate income taxes.
C) Social Security taxes.
D) Excise taxes.

Question

Quizplus · Accepted Answer

Individual income taxes have consistently contributed the greatest percentage of total federal government tax revenues, accounting for approximately 50% of all federal revenue in recent years. Corporate income taxes and excise taxes account for much smaller portions of federal revenue, while Social Security taxes are specifically earmarked for the Social Security program and not used for general government spending.

Which of the Following Taxes Contributed the Greatest Percentage of Total