A number to keep in mind just for reference: $2.4 trillion is how much tax was collected last year

[ThomWV]

That is what our Government should be operating on - its tax income. The total collected last year was $2.4 trillion, give or take.

[grannie4peace]

1. you are right

[sandnsea]

2. Do you have a breakdown?

Federal, Capital Gains, Corporate, etc.

And what the FICA was and how much of that excess is going into the mix?

[hfojvt]

3. I can guesstimate from 2000

1.2 trillion for income tax. There is no break-down, other than perhaps IRS figures for Capital Gains outside of income tax. Although the savings in 2005 from the Bush tax cuts on dividends and capital gains was $91 billion. FICA taxes are about $800 billion with the surplus at about $150 billion. Other taxes are the rest, the .4 trillion is mostly corporate taxes.

This is an edjumacated guess without actually looking it up. I remember that income tax revenues were about a trillion in 2000 and then went down and only now have surpassed that, and FICA was about $600 billion in 2000.

edit, many stats can be found here
http://www.census.gov/compendia/statab/
but they will be about 3 years old.

[ThomWV]

5. That's pretty much as I remember the chart I saw yesterday from the IRS

Corporate accounted for a bit less than half, personel was about equal to it, and the rest was made up from estate and similar taxes. They also had a section for social security withholding. Oh, and the chart I looked at also showed actual collections and then refunds for the year end total. Suprisingly about 20% of personal taxes collected are later returned as refunds - that's a nice interest free loan we are making to the Government with that one.

[hfojvt]

6. it's in the link I posted for 2006

you made me look it up since I doubted that corporate was close to half.

What it said for 2006, total = 2,407.3 billion
Individual 1,043
corporate 353
FICA et. al. 837
excise 74
other 97.6

I like the interest free loan part. I think Clinton did that in the 1990s. Increasing withholding sorta gets more revenue without actually having to raise taxes. Although one thing I found was interesting. For refunds I would file as early as possible and yet I noticed that the IRS had already withheld enough money from my checks to pay for my refund before they sent it.

[ThomWV]

4. Actually, yes I did yesterday

Yesterday I was looking for the number to see if another comment I was going to make made any sense or not. I went to the Treasury Department's website and from there went to the IRS and from there found it as a PFD document - one page summary with about 1 page's worth of breakdown. It divided it by Personal, Corporate, Estate, and a couple of other individual taxes, it showed it for 2 years too. I'm afraid I did not save the site but it only took me a minute or two to find it.