We are independent & ad-supported. We may earn a commission for purchases made through our links.
WiseGEEK

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Do Individuals or Corporations Contribute More Income Taxes?

L. S. Wynn
By L. S. Wynn
Updated May 17, 2024
Our promise to you
WiseGEEK is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGEEK, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

The United States government raises the majority of its revenue through taxation. The primary tax sources are: individual income taxes, corporate income taxes, exise taxes, social insurance taxes, estate and gift taxes and custom duties.

In the table below, we have illustrated the total revenue generated by individual income taxes compared to corporate income taxes. The amounts are quoted in billions of actual dollars (they do not account for inflation).

The numbers fluctuate from year to year, but the overall trends are very clear. Individual income taxes make up a much larger percentage of government revenue when compared to the contributions made by corporations. In 1967 for example, corporations contributed 57% of the amount paid by individual income taxes. Contrast that with the data from 2001 in which corporations paid only 15% of the amount contributed by individuals.

U.S. Government Revenue in billions of dollars.
individual income taxes year corporate income taxes
45.6 1962 20.5
47.6 1963 21.6
48.7 1964 23.5
48.8 1965 25.5
55.4 1966 30.1
61.5 1967 34.0
68.7 1968 28.7
87.2 1969 36.7
90.4 1970 32.8
86.2 1971 26.8
94.7 1972 32.2
103.2 1973 36.2
119.0 1974 38.6
122.4 1975 40.6
131.6 1976 41.4
157.6 1977 54.9
181.0 1978 60.0
217.8 1979 65.7
244.1 1980 64.6
285.9 1981 61.1
297.7 1982 49.2
288.9 1983 37.0
298.4 1984 56.9
334.5 1985 61.3
349.0 1986 63.1
392.6 1987 83.9
401.2 1988 94.5
445.7 1989 103.3
466.9 1990 93.5
467.8 1991 98.1
476.0 1992 100.3
509.7 1993 117.5
543.1 1994 140.4
590.2 1995 157.0
656.4 1996 171.8
737.5 1997 182.3
828.6 1998 188.7
879.5 1999 184.7
1,004.5 2000 207.3
994.3 2001 151.1
858.3 2002 148.0
793.7 2003 131.8
WiseGEEK is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
See our Editorial Process Share Feedback

Related Articles

Discussion Comments

WiseGEEK, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGEEK, in your inbox

Our latest articles, guides, and more, delivered daily.