Econintersect: The CBO (Congressional Budget Office) has released some infographics on the details of theFederal government income and spending in 2011. Here (after “Read more…”) we post the presentation on the tax revenues received by the government. Yesterday (21 April 2012) we presented the infographic for discretionary spending in fiscal 2011. A manditory spending infographic was posted three days ago.
Tax revenues are lower as a percentage of GDP than they were twenty years ago:
Here is the CBO statement about federal revenues:
The federal government took in $2.3 trillion in revenues in fiscal year 2011 (which ended on September 30, 2011), about $1.3 trillion less than it spent. Most of those revenues come from individual income taxes and the payroll taxes that support Social Security and Medicare’s Hospital Insurance program.
Below is the full infographic. Click (twice) on graphic for a larger image.