I am currently looking to become better educated when it comes to taxes currently paid to the US federal government, and get a better look at our expenses/budget. (hopefully to build a youtube video to better explain this to people like myself)

There is a lot of information out there, but I have never fully understand the source of this data. Through Excel Power Pivot I am planning on using this data to better understand what the issue is.

I have been following Trump's plan for Taxes and want to better understand if this plan is actually possible. What do corporations truly pay? What portion goes to the federal government?

Data is the key to understanding the issue that we face. I know as an individual 30% of my income goes to state and federal taxes. Where is this money actually going? Why do I have such a large percentage of my income going to taxes?

Thank you for your help!

1 Answer 1


If you are seeking Federal Budget data, I suggest you begin with this description

Several government agencies provide budget data. These include the Government Accountability Office (GAO), the Congressional Budget Office (CBO), the Office of Management and Budget (OMB) and the U.S. Treasury Department. The CBO publishes The Budget and Economic Outlook in January, which covers a ten-year window and is typically updated in August. It also publishes a Long-Term Budget Outlook in July and a Monthly Budget Review. The OMB, which is responsible for organizing the President's budget presented in February, typically issues a budget update in July. The GAO and the Treasury issue Financial Statements of the U.S. Government, usually in the December following the close of the federal fiscal year, which occurs September 30. There is a corresponding Citizen's Guide, a short summary. The Treasury Department also produces a Combined Statement of Receipts, Outlays, and Balances each December for the preceding fiscal year, which provides detailed data on federal financial activities.

Historical tables within the President's Budget (OMB) provide a wide range of data on federal government finances. Many of the data series begin in 1940 and include estimates of the President's Budget for 2009–2014. Additionally, Table 1.1 provides data on receipts, outlays, and surpluses or deficits for 1901–1939 and for earlier multi-year periods. This document is composed of 17 sections, each of which has one or more tables. Each section covers a common theme. Section 1, for example, provides an overview of the budget and off-budget totals; Section 2 provides tables on receipts by source; and Section 3 shows outlays by function. When a section contains several tables, the general rule is to start with tables showing the broadest overview data and then work down to more detailed tables. The purpose of these tables is to present a broad range of historical budgetary data in one convenient reference source and to provide relevant comparisons likely to be most useful. The most common comparisons are in terms of proportions (e.g., each major receipt category as a percentage of total receipts and of the gross domestic product).[8]

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