What is the largest single source of revenue for the federal government?
A)consumption taxes
B)social security contributions
C)income taxes
D)tariff revenues

Question

Quizplus · Accepted Answer

According to the Fiscal Year 2020 Budget of the U.S. Government, income taxes account for 50.7% of the total federal government revenue, making it the largest single source of revenue. Consumption taxes, such as excise taxes, only account for 3.1% of the revenue. Social security contributions and tariff revenues also contribute to the government revenue, but they are not as significant as income taxes.

What Is the Largest Single Source of Revenue for the Federal