How much did the federal government raise through taxes in fiscal year 2013?
Table of Contents
How much did the federal government raise through taxes in fiscal year 2013?
$2.77 trillion
U.S. Tax Revenue by Year
| Fiscal Year | Revenue |
|---|---|
| FY 2016 | $3.27 trillion |
| FY 2015 | $3.25 trillion |
| FY 2014 | $3.02 trillion |
| FY 2013 | $2.77 trillion |
What was the federal budget for the fiscal year 2012?
2012 United States federal budget
| Submitted | February 14, 2011 |
|---|---|
| Total expenditures | $3.729 trillion (requested) $3.537 trillion (actual) 22.1% of GDP (actual) |
| Deficit | $1.101 trillion (requested) 7.0% of GDP $1.087 trillion (actual) 6.8% of GDP (actual) |
What share of GDP did the US allocate to government spending in 2013?
Net spending by the government was $84 billion less in 2013 than in 2012, and it was lower than outlays in any year since 2008. It amounted to 20.8 percent of GDP in 2013, lower than the 22.0 percent recorded in 2012 but still above the 40-year average of 20.4 percent.
What are the deficits for 2013?
The federal budget deficit grew during the 2008–2009 recession and began to shrink soon afterward. However, at $680 billion, it was still larger in 2013 than in 2008. As a percentage of gross domestic product (GDP), the deficit in 2013 was also larger than the average of the past 40 years.
Which federal tax raises the greatest tax revenue?
The individual income tax
The individual income tax has been the largest single source of federal revenue since 1950, amounting to about 50 percent of the total and 8.1 percent of GDP in 2019 (figure 3).
What was the largest budget of the United States?
As of the fiscal year 2019 budget approved by Congress, national defense is the largest discretionary expenditure in the federal budget. Figure C provides a historical picture of military spending over the last few decades. In 1970, the United States government spent just over $80 billion on national defense.
What is USA’s main source of income?
The individual income tax is the federal government’s largest source of revenue. More than 153 million individual income tax returns were filed for tax year 2018, the first year under the changes made by the Tax Cuts and Jobs Act (TCJA).
How do governments make money without taxes?
Non-tax revenue includes dividends from government-owned corporations, central bank revenue, fines, fees, sale of assets, and capital receipts in the form of external loans and debts from international financial institutions.
What percentage of the U.S. budget is military?
10 percent
What percent of the US budget is spent on military? Military spending on defense accounts for more than 10 percent of the federal budget and nearly half of the discretionary spending. The annual federal funding accounts for around one-third of overall discretionary spending, including defense and non-defense spending.
What percentage of GDP is spent on military?
Although the United States spends more on defense than any other country, the Congressional Budget Office projects that defense spending as a share of gross domestic product (GDP) will decline over the next 10 years — from 3.1 percent of GDP in 2022 to 2.7 percent in 2032.
