Research Report Changes in Tax Revenue Since 1929
Lydia Austin, Roberton C. Williams
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This Tax Fact examines sources of federal and state & local tax revenue, from 1929 to the present. The composition of revenues at all levels of government changed dramatically with World War II, but has remained roughly stable since. At the federal level, payroll taxes have grown dramatically, and individual income taxes remain a major source of revenue. At the state and local level, sales and property taxes account for about one-third of revenues.
Research Areas Economic mobility and inequality Taxes and budgets
Tags Fiscal policy State and local tax issues Federal budget and economy
Policy Centers Urban-Brookings Tax Policy Center