where does most of the federal governments revenue come from
United States federal budget During FY2016, the federal government collected approximately $3.27 trillion in tax revenue, up $18B (billion) or 1% versus FY2015. Primary receipt categories included individual income taxes ($1,546B or 47% of total receipts), Social Security/Social Insurance taxes ($1,115B or 34%), and corporate taxes ($300B or 10%). Other revenue types included excise, estate and gift taxes.[1] FY 2016 revenues were 17.8% of gross domestic product (GDP), versus 18.2% in FY 2015. Tax revenues averaged approximately 17.4% GDP over the 1980-2015 period, generally ranging plus or minus 2% from that level.[1] Tax revenues are significantly affected by the economy. Recessions typically reduce government tax collections as economic activity slows. For example, tax revenues declined from $2.5 trillion in 2008 to $2.1 trillion in 2009, and remained at that level in 2010. From 2008 to 2009, individual income taxes declined 20%, while corporate taxes declined 50%. At 14.6% of GDP, the 2009 and 2010 collections were the lowest level of the past 50 years.[1]