This post was originally published on the blog Wonky Thoughts.
Gross Domestic Income ($MM)
Individual Income Taxes
Payroll (Social Insurance) Tax
Corporate Income Tax
Corporate Payroll Tax
Capital Gains Tax
Dividends & Interest Tax
- All individual income taxes, minus 9.2 % for capital gains, and 4.75% for dividends and Interest.
- Employee payroll taxes (Social Security and Medicare)
- Federal excise taxes (alcohol, tobacco, fuel and health insurance).
- Business income taxes
- Corporate payroll taxes
- Individual capital gains taxes
- Individual dividends and interest taxes
- “Other” taxes, representing diverse sources such as mineral royalty payments
- The 2016 component percentages of individual taxes (wages, capital gains, dividends and interest) were assumed to apply to 2015 taxes.
- The percentage of taxes paid on capital gains was applied to dividends and interest.
- Federal Excise taxes were entirely allocated to Wages.