Taxes – The Power of our Spending

Ever wonder how much the government actually hauls in on all the things we spend our money on? How much does the government make from all of us drunkards buying alcohol? What about all that gas we guzzle, surely they want what’s best for us and make little off of it. Well, using the power of the interweb, I have compiled a list of interesting figures detailing exactly how much the government makes in tax revenue from our spend thrift ways. Thanks to the Tax Policy Center for providing me with these figures. If you want more in-depth numbers with your own state’s revenues, check out the tax facts page over at the TPC.

Now onto the list, all numbers are for the last data entry – 2005.

Excise Taxes

  • Alcohol – $5,145,120,000
  • Fuel – $35,769,931,000
  • Tobacco – $13,336,754,000
  • Telephones – $5,851,530,000

Other Taxes

  • Property Taxes – $335,678,019,000
  • Estate Taxes – $23,565,164,000
  • Gift Taxes – $2,040,367,000
  • Corporate Income Taxes – $307,094,837,000
  • Total IRS Collections – $2,268,895,122,000

Something interesting I found was the chart shown below. It details the corporate income tax as a percentage of GDP from 1946-2004. I’ve also modified it to show which president was in charge at the time. The shaded areas show recessionary periods, the red/green shows the presidential time line.