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Do Individuals or Corporations Contribute More Income Taxes?

Article Details
  • Written By: L. S. Wynn
  • Edited By: L. S. Wynn
  • Last Modified Date: 27 June 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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The United States government raises the majority of its revenue through taxation. The primary tax sources are: individual income taxes, corporate income taxes, exise taxes, social insurance taxes, estate and gift taxes and custom duties.

In the table below, we have illustrated the total revenue generated by individual income taxes compared to corporate income taxes. The amounts are quoted in billions of actual dollars (they do not account for inflation).

The numbers fluctuate from year to year, but the overall trends are very clear. Individual income taxes make up a much larger percentage of government revenue when compared to the contributions made by corporations. In 1967 for example, corporations contributed 57% of the amount paid by individual income taxes. Contrast that with the data from 2001 in which corporations paid only 15% of the amount contributed by individuals.

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U.S. Government Revenue in billions of dollars.
individual income taxes year corporate income taxes
45.6 1962 20.5
47.6 1963 21.6
48.7 1964 23.5
48.8 1965 25.5
55.4 1966 30.1
61.5 1967 34.0
68.7 1968 28.7
87.2 1969 36.7
90.4 1970 32.8
86.2 1971 26.8
94.7 1972 32.2
103.2 1973 36.2
119.0 1974 38.6
122.4 1975 40.6
131.6 1976 41.4
157.6 1977 54.9
181.0 1978 60.0
217.8 1979 65.7
244.1 1980 64.6
285.9 1981 61.1
297.7 1982 49.2
288.9 1983 37.0
298.4 1984 56.9
334.5 1985 61.3
349.0 1986 63.1
392.6 1987 83.9
401.2 1988 94.5
445.7 1989 103.3
466.9 1990 93.5
467.8 1991 98.1
476.0 1992 100.3
509.7 1993 117.5
543.1 1994 140.4
590.2 1995 157.0
656.4 1996 171.8
737.5 1997 182.3
828.6 1998 188.7
879.5 1999 184.7
1,004.5 2000 207.3
994.3 2001 151.1
858.3 2002 148.0
793.7 2003 131.8
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