> There are a lot of things included in GDP that are not taxable personal income: social security contributions, net government transfers, etc This is not true

> There are a lot of things included in GDP that are not taxable personal income: social security contributions, net government transfers, etc This is not true. The GDP numbers specifically exclude social security and other money transfers, specifically to avoid the problems you've stated. https://www.investopedia.com/ask/answers/082415/are-social-security-payments-included-us-gdp-calculation.asp https://www.investopedia.com/ask/answers/082415/are-social-s... "No, Social Security payments are not included in the U.S. definition of the gross domestic product (GDP). Social Security payments are transfer payments, which are not included" https://en.m.wikipedia.org/wiki/Transfer_payment https://en.m.wikipedia.org/wiki/Transfer_payment "For the purpose of calculating gross domestic product (GDP), government spending does not include transfer payments, which are the reallocation of money from one party to another rather than expenditure on newly produced goods and services" The main difference between GDP and Gross National Income, is that GDP doesn't include income from foreign sources, and going to foreign destinations. But this doesn't make a significant difference in USA. "For instance, the U.S. GNI for 2018 was about 20.7 trillion, according to the World Bank. The GDP in that same year was $20.5 trillion, according to the U.S. Bureau of Economic Affairs"