Ron Paul said income tax is only a third of IRS revenue..

[Vaio]

Did the math and the corporate + individual income taxes = 52% of Government revenue even AFTER returning excess collections. Where exactly are Ron Paul's numbers coming from? And if we abolished the IRS, who would collect gift taxes, excise taxes, estate taxes, etc.??

[MRoCkEd]

Welcome to the forums

And if we abolished the IRS, who would collect gift taxes, excise taxes, estate taxes, etc.??
Nobody. That's the point.

What he says about eliminating the IRS/Income tax is mathematically accurate and I'm sure someone else can show the information to you because I'm too tired right now.

[acroso]

A lot of there money is treasurey reciepts.

[apc3161]

I think Ron actually got this one wrong.

Federal Receipts for 2008

* $1.25 trillion - Individual income tax
* $927.2 billion - Social Security and other payroll taxes
* $314.9 billion - Corporate income tax
* $68.1 billion - Excise taxes
* $29.2 billion - Customs duties
* $25.7 billion - Estate and gift taxes
* $50.7 billion - Other

The Budget was 2.9 trillion for 2008.

So maybe he meant to say that the individual income tax represented roughly 33% of the entire budget. Which wouldn't be too off.

[Ninja Homer]

Did the math and the corporate + individual income taxes = 52% of Government revenue even AFTER returning excess collections. Where exactly are Ron Paul's numbers coming from? And if we abolished the IRS, who would collect gift taxes, excise taxes, estate taxes, etc.??

All I can tell you is that you're missing some variables.

You said that Ron Paul said income tax = 1/3 IRS revenue.
But then you conclude that it can't be right because corporate + individual income taxes does not = government revenue.

Government revenue does not = IRS revenue. The government gets revenue from lots of other places besides the IRS.

edit 1: Never mind, I'm being stupid. I see what you're saying now, 1/3 does not equal 52%.
edit 2: No, screw edit 1, I was right the first time. Apples don't equal oranges. I really shouldn't try to be logical while drinking. :D

[smithtg]

I think Ron actually got this one wrong.

Federal Receipts for 2008

* $1.25 trillion - Individual income tax
* $927.2 billion - Social Security and other payroll taxes
* $314.9 billion - Corporate income tax
* $68.1 billion - Excise taxes
* $29.2 billion - Customs duties
* $25.7 billion - Estate and gift taxes
* $50.7 billion - Other

The Budget was 2.9 trillion for 2008.

So maybe he meant to say that the individual income tax represented roughly 33% of the entire budget. Which wouldn't be too off.


and then the government borrows all the Social security income (excess beyond what they pay out) and spends it as well. There is NO TRUST FUND AND I WANT OUT OF THAT SYSTEM. Oh yeah, and after they borrow that they borrow another half trillion from the FED to spend on the war machine

SPEND SPEND SPEND

[Aldanga]

I know Dr. Paul said if we got rid of the income tax that we'd have enough money to run the government from 10 years ago, which cost half of what ours does now.

[Matt Collins]

Type of Taxes as a Percentage of Total Federal Revenue, 2007

http://www.heritage.org/research/features/BudgetChartBook/images/fed-rev-spend-2008-boc-R4-Social-Insurance-Taxes-Now.gif
Social Insurance Taxes Now Account for 34 percent of All Revenues
Social insurance taxes, which fund programs such as Social Security and Medicare, are now the second-largest source of revenue.
Yet without reforms, dramatically higher taxes will be needed to pay for these programs.


SOURCE:
http://www.heritage.org/research/features/BudgetChartBook/fed-rev-spend-2008-boc-R4-Social-Insurance-Taxes-Now.html







.

[Matt Collins]

Federal Government Revenue, in Billions, by Major Source, 1965–2008




http://www.heritage.org/research/features/BudgetChartBook/images/fed-rev-spend-2008-boc-R2-Federal-Government-Tax-Revenue.gif



Federal Government Tax Revenue Has Tripled Since 1965
Government revenue has soared by more than $1.75 trillion since 1965, in part because top marginal income, capital gains, and corporate tax rates were cut.

SOURCE:
http://www.heritage.org/research/features/BudgetChartBook/fed-rev-spend-2008-boc-R2-Federal-Government-Tax-Revenue.html

[Matt Collins]

http://www.federalbudget.com/chart.gif (http://www.federalbudget.com/)