The largest source of federal revenue in the United States is:
A)Social insurance tax
B)the corporate income tax
C)the individual income tax
D)Foreign aid to the U.S.

Question

​The largest source of federal revenue in the United States is:
A)​Social insurance tax
B)the corporate income tax
C)​the individual income tax
D)Foreign aid to the U.S.

Quizplus · Accepted Answer

According to the Congressional Budget Office (CBO), the individual income tax generates the largest percentage of federal revenue in the United States, accounting for approximately 50% of all revenue in recent years. The next largest sources are social insurance tax (36%) and corporate income tax (9%). Foreign aid is not a source of revenue for the U.S. government, but rather an expenditure towards other countries.

​The Largest Source of Federal Revenue in the United States

The Largest Source of Federal Revenue in the United States