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a usgovernmentrevenue.com briefing:
Estimated Government Revenue for FY2013
In 2013 the governments in the United States are expected to collect about 33 percent of Gross Domestic Product in revenue. The federal government will collect about 17 percent of GDP, the states will collect about 10 percent of GDP, and local governments about 7 percent of GDP.
Government Revenue: Federal, State, Local
Governments in the US will collect $5.4 trillion in 2013.
Table 3.01: Total Revenue in 2013
In fiscal 2013 the federal government estimates revenue will be $2.7 trillion. State revenue for 2013 is "guesstimated" by usgovernmentrevenue.com at $1.6 trilion and local government revenue is "guesstimated" by usgovernmentrevenue.com at $1.1 trillion.
Total revenue at all levels of government in the United States is "guesstimated" by usgovernmentrevenue.com to be $5.4 trillion in 2013.
Government Revenue: the Sources
The governments in the US collect about $3.2 trillion in a year income and payroll taxes.
Table 3.02: Total Revenue Breakdown FY 2013
Income tax is where governments collect the most tax: federal, state, and local, they will collect about $1.9 trillion in 2013. Next in line are ad-valorem taxes, i.e. sales taxes and property taxes: governments will collect about $1.1 trillion in 2013 Social insurance taxes, including Social Security, unemployment and hospital taxes, will add up to $1.1 trillion. Fees and Charges will add up to $0.5 trillion, and Business and Other Revenue will add up to $0.8 trillion in 2013.
These revenue estimates are based on projections in the federal budget for federal revenue and on "guesstimates" of state and local revenue by usgovernmentrevenue.com
Pie Chart of Federal Government Revenue
Chart 3.05: Federal Revenue Pie
Federal revenue is budgeted at $2.7 trillion for FY 2013. Almost all revenue comes from income taxes, individual and corporate, at 56 percent of total federal revenue; and social insurance taxes, at 35 percent of total federal revenue.
Pie Chart of State Government Revenue
Chart 3.06: State Revenue Pie
State government revenue, as "guesstimated" by usgovernmentrevenue.com, will total about $1.6 trillion in FY 2013, and is balanced between five major sources. The largest revenue source is ad-valorem taxes, property and sales taxes, at 31 percent of total state revenue. State income taxes amount to 21 percent of total state revenue; state business revenue, including investment returns from government employee pension systems, comes in at 28 percent of revenue; and fees and charges amount to 12 percent of total state revenue.
Pie Chart of Local Government Revenue
Chart 3.07: Local Revenue Pie
Local government revenue, as "guesstimated" by usgovernmentrevenue.com, will total about $1.1 trillion in FY 2013, and is dominated by ad-valorem taxes amounting to 46 percent of total local government revenue. Business revenue, including investment returns from government employee pension systems, amounts to 26 percent of total local revenue; fees and changes amount to 24 percent of local revenue. The remaining revenue is 4 percent of total local revenue.
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Data Sources for 2013:
GDP: Fed. Budget: Hist. Table 10.1
Federal: Fed. Budget: Hist. Tables 2.1, 2.4, 2.5, 7.1
State and Local: State and Local Gov. Finances
“Guesstimated” by projecting the latest change in reported revenue forward to future years
> data sources for other years
> data update schedule.
Medicare and Social Security Details
Go here to get details of the Social Security changes on usgovernmentspending.com.
Go here to get details of the Medicare changes on usgovernmentspending.com
usgovernmentrevenue.com
presented by Christopher Chantrill
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