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That's incorrect information, roughly half of US tax revenue is from income taxes, roughly a third is payroll taxes (not sure whether to attribute that to emplo
by epistasis 8mo ago
That's incorrect information, roughly half of US tax revenue is from income taxes, roughly a third is payroll taxes (not sure whether to attribute that to employees or corporations paying), and then corporate taxes and excise taxes are only about a tenth of US tax.
- cyanydeez 8mo agoPayroll is mostly the employees money gping to social programs.
- tonyedgecombe 8mo agoI didn’t think payroll taxes were hypothecated in the US?
- legitronics 8mo agoIn general, no they aren’t. But there is the social security tax, which is individually tracked and collectively allocated for that office. And the Medicare tax which goes off directly to that program. These two constitute a major component of money going into the system.
- nickff 8mo agoThere was a time when that was the intent, but it doesn’t really matter anymore, as there are not enough payroll taxes to cover the programs anymore.