Taxes - How Does The Government Get Money?

Americans pay many different types of taxes, One important issue examined in this section is how the income tax burden is distributed among the American population. Popular belief holds that those in the lower half of income earners pay a disproportionately high share of taxes, while wealthier Americans pay less than their "fair share." the top 1 percent of taxpayers (ranked by adjusted gross income) paid 34.3 percent of all federal income taxes; the top 5 percent paid 54.4 percent; the top 10 percent paid 65.8 percent; and the top 25 percent paid 83.9 percent. Another important issue examined in this section is the effect that taxation rates have on a nation's overall economy
The federal corporation income tax was adopted in the United States in 1909, four years before an individual income tax was authorized by constitutional amendment.the corporate tax generally yielded more revenue for the government than did the individual income tax, but today the individual income tax generates about five times more revenue than does the corporate tax.In recent years, some economists and political candidates have proposed that the U.S. adopt a "flat tax" (also called a proportional tax) system that would tax everyone, regardless of income, at the same rate.