The largest source of federal government revenue in 2014 was
A)sales taxes.
B)corporate income taxes.
C)individual income taxes.
D)payroll taxes to fund Social Security and Medicare programs.

Question

Quizplus · Accepted Answer

According to the Congressional Budget Office, individual income taxes accounted for approximately 47% of the federal government's revenue in 2014, making it the largest source of revenue. Corporate income taxes accounted for approximately 10%, while payroll taxes to fund Social Security and Medicare programs accounted for approximately 34%. Sales taxes are not a significant source of federal government revenue.

The Largest Source of Federal Government Revenue in 2014 Was