Chart of the Day: Largest Source of Federal Revenue

With tax season officially upon us, today's Chart of the Day from Liberty Taxed gives us an idea of the projected federal tax revenue over the coming years.

Individual income taxes remain the largest source of federal revenue, making up 49% of total government receipts. Payroll taxes—primarily used to fund Social Security and Medicare—account for another 35%, while corporate income taxes contribute 11% and all other sources combined make up the remaining 5%. 

Together, these categories show the relative balance of U.S. federal revenue streams and the extent to which the government relies on individual taxpayers compared with businesses and other smaller revenue sources.