Use The Online Calculator To See What Your Taxes Will Be Under New GOP Tax Plan

There is now an online calculator so people can see what their taxes will be under the new GOP tax plan. Continue reading →

What Does Indiana Congressman Andre Carson Know About The IT Workers Scandal?

Back in February, reports surfaced about a family of workers who performed computer IT work for several Democrats, which included Congressman Andre Carson, Continue reading →

How President Obama made America forget about government debt

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President Obama is the worst President we’ve had when it comes to the economics of our federal budget.

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Where the Federal Government Gets Tax Revenue From

Via Peter G. Peterson Foundation

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The federal government collects revenue from a variety of sources. The largest source is taxes on individuals’ income and payroll taxes, which together make up four-fifths of federal revenue. Individual income taxes are assessed against wage income and are progressive: that is, the tax rate someone pays increases as their income increases. Payroll taxes are a flat percentage of wage income. They are used to fund Social Security and portions of Medicare. Taxes on corporate profits, estate and gift taxes, excise taxes (a tax levied on a good or service), customs duties, and numerous other taxes comprise the remainder.