Federal Government Income Fiscal

Federal Government Income
Fiscal Year 2007

Income Category	$ Billions	% of Outlays
Individual Income Taxes	1163	43
Social Insurance Tax and Contributions	870	32
Corporate Income Taxes	370	13*
Other Taxes	165	6
Totals	2568	94%
Deficit	163	<6>%

Source: Final Monthly Treasury Statement September 2007
* Percentage column numbers might be altered to allow total to equal 100%

"Other Taxes" includes excise taxes, estate and gift taxes, customs duties and other miscellaneous receipts.
Income figures are represented as a percentage of outlays. FY2007 income was 94% of outlays, which is another way of saying we had a 6% deficit. The federal government collected $2 trillion, 568 billion and borrowed $163 billion in the open market by selling U.S. Treasury securities.

This budget exercise was developed by the Concord Coalition.
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