The most important revenue-generating taxes for the federal government are individual income taxes and payroll taxes for social insurance.

Question

Quizplus · Accepted Answer

According to data from the IRS and the Congressional Budget Office, individual income taxes and payroll taxes for social insurance (such as Social Security and Medicare) are the two largest sources of revenue for the federal government. In recent years, these two taxes have accounted for over 80% of federal tax revenue.

The Most Important Revenue-Generating Taxes for the Federal Government Are