We used [data on ](https://www.whitehouse.gov/omb/budget/historical-tables/)federal revenue and employed GGplot2 in R to visualize the U.S. federal revenue sources from 1940 to 2023. The chart highlights how different revenue streams have contributed to the federal budget over time, using data from the Office of Management and Budget.
The point:
**1942**: Corporation income taxes are approximately **37-38%** of total federal revenue.
* **1950**: They appear to be around **30%**. * **1960**: The proportion seems to drop slightly to about **22-23%**. * **1970**: Corporation income taxes contribute approximately **15-16%**. * **1980**: They drop further to around **10-12%**. * **1990**: The contribution stabilizes at approximately **8-10%**. * **2000**: The percentage remains close to around **8-9%**. * **2010**: Corporation income taxes hover around **7-9%**.
Over the decades, there is a steady decline in the share of federal revenue derived from corporation income taxes.
The chart also provides insight into the historical trends of other tax sources, such as excise taxes. Excise taxes, which are taxes levied on specific goods like alcohol, tobacco, and gasoline, have seen a significant decline as a proportion of total federal revenue over the years.
In the early 1940s, excise taxes accounted for a noticeable share of federal revenue, approximately **20-25%**. This substantial share was reflective of a time when excise taxes were a more prominent source of government funding, largely due to the limited breadth of other tax bases and the significant consumption of taxed goods during that period.
However, as the chart shows, the share of federal revenue from excise taxes has steadily declined over the decades. By the 1960s, their contribution had dropped to around **10%**, and this downward trend continued in the following decades. By 2023, excise taxes make up only **1.7%** of total federal revenue, indicating their relative decline in importance.
I’m sure a lot will be said about the decline in corporate income taxes, but all that’s actually happening is that money is getting taxes when it gets distrubuted to individuals. It’s much more efficient to structure taxes that way.
Revenue from corporate sector is still very high😔😠its stopping my corporate masters from making more billionsðŸ˜ðŸ˜
I don’t know what retirements receipts are, but I don’t like it.
[deleted]
Why did excise taxes dwindle to nothing?
I’m using ChatGPT, so not sure if you can trust this data but….. Here is the U.S. federal corporate tax revenue **adjusted for inflation** to 2022 dollars:
|| || |1970|$189.5|
|| || |1975|$225.4|
|| || |1980|$223.1|
|| || |1985|$158.4|
|| || |1990|$201.2|
|| || |1995|$285.2|
|| || |2000|$344.7|
|| || |2005|$413.1|
|| || |2010|$240.8|
|| || |2015|$387.2|
|| || |2020|$230.0|
|| || |2022|$425.2|
Dark line red line can be MUCH smaller if the light red line gets much bigger.
It seems like Social insurance and retirement receipts shouldn’t be counted in general revenue. It may be technically, but it’s pretty firmly silo’d to pay for its own programs.
Yep. Using stocks as collateral for a loan should be considered realized and be taxed.
Modest proposal: completely eliminate corporate income tax. This would eliminate enormous numbers of tax based bad decision making and force companies to compete on price/service. Tax law firms and corp tax law departments are gutted, accounting is simplified. Pay for it by making individual tax rates more progressive and shielding fewer things from taxes.
Crazy how we went from individuals paying a small portion to now paying most of it.
Subsidy the things you want, tax the things you want to discourage. Super simple.
Corporate taxes need to be more than 9.4% and before the trickle down economics people chime in why does 1% of the population own 26.5% of the countries wealth and the middle class 60% of the population only has 25.8%. Surely it’s not trickling down because of Greed and it needs to be taxed. This is going to reach a point where they have too much of the countries wealth.
15 comments
We used [data on ](https://www.whitehouse.gov/omb/budget/historical-tables/)federal revenue and employed GGplot2 in R to visualize the U.S. federal revenue sources from 1940 to 2023. The chart highlights how different revenue streams have contributed to the federal budget over time, using data from the Office of Management and Budget.
The point:
**1942**: Corporation income taxes are approximately **37-38%** of total federal revenue.
* **1950**: They appear to be around **30%**.
* **1960**: The proportion seems to drop slightly to about **22-23%**.
* **1970**: Corporation income taxes contribute approximately **15-16%**.
* **1980**: They drop further to around **10-12%**.
* **1990**: The contribution stabilizes at approximately **8-10%**.
* **2000**: The percentage remains close to around **8-9%**.
* **2010**: Corporation income taxes hover around **7-9%**.
Over the decades, there is a steady decline in the share of federal revenue derived from corporation income taxes.
The chart also provides insight into the historical trends of other tax sources, such as excise taxes. Excise taxes, which are taxes levied on specific goods like alcohol, tobacco, and gasoline, have seen a significant decline as a proportion of total federal revenue over the years.
In the early 1940s, excise taxes accounted for a noticeable share of federal revenue, approximately **20-25%**. This substantial share was reflective of a time when excise taxes were a more prominent source of government funding, largely due to the limited breadth of other tax bases and the significant consumption of taxed goods during that period.
However, as the chart shows, the share of federal revenue from excise taxes has steadily declined over the decades. By the 1960s, their contribution had dropped to around **10%**, and this downward trend continued in the following decades. By 2023, excise taxes make up only **1.7%** of total federal revenue, indicating their relative decline in importance.
I’m sure a lot will be said about the decline in corporate income taxes, but all that’s actually happening is that money is getting taxes when it gets distrubuted to individuals. It’s much more efficient to structure taxes that way.
Revenue from corporate sector is still very high😔ðŸ˜
its stopping my corporate masters from making more billionsðŸ˜ðŸ˜
I don’t know what retirements receipts are, but I don’t like it.
[deleted]
Why did excise taxes dwindle to nothing?
I’m using ChatGPT, so not sure if you can trust this data but….. Here is the U.S. federal corporate tax revenue **adjusted for inflation** to 2022 dollars:
||
||
|1970|$189.5|
||
||
|1975|$225.4|
||
||
|1980|$223.1|
||
||
|1985|$158.4|
||
||
|1990|$201.2|
||
||
|1995|$285.2|
||
||
|2000|$344.7|
||
||
|2005|$413.1|
||
||
|2010|$240.8|
||
||
|2015|$387.2|
||
||
|2020|$230.0|
||
||
|2022|$425.2|
Dark line red line can be MUCH smaller if the light red line gets much bigger.
It seems like Social insurance and retirement receipts shouldn’t be counted in general revenue. It may be technically, but it’s pretty firmly silo’d to pay for its own programs.
Yep. Using stocks as collateral for a loan should be considered realized and be taxed.
Modest proposal: completely eliminate corporate income tax. This would eliminate enormous numbers of tax based bad decision making and force companies to compete on price/service. Tax law firms and corp tax law departments are gutted, accounting is simplified.
Pay for it by making individual tax rates more progressive and shielding fewer things from taxes.
Crazy how we went from individuals paying a small portion to now paying most of it.
Subsidy the things you want, tax the things you want to discourage. Super simple.
Corporate taxes need to be more than 9.4% and before the trickle down economics people chime in why does 1% of the population own 26.5% of the countries wealth and the middle class 60% of the population only has 25.8%. Surely it’s not trickling down because of Greed and it needs to be taxed. This is going to reach a point where they have too much of the countries wealth.
Time to increase corporate income taxes