Social Security and Individual Income Taxes as a Percentage of GDP, 1936-2013

Title

Social Security and Individual Income Taxes as a Percentage of GDP, 1936-2013

Subject

Social Security and Income Taxes

Description

This chart shows the increasing significance of Social Security taxes in the contemporary United States. Although Social Security taxes are often described as "contributions," the program is funded by a dedicated payroll tax. The significance of that tax has increased significantly over the last forty years. Indeed, many Americans pay more in Social Security and Medicare taxes every year than they pay in individual income taxes.

Creator

Molly Michelmore

Source

Office of Management and Budget, Historical Tables, Table 2.3, “Receipts by Source as a Percentage of GDP, 1934-2018,” last modified May 2013,

Publisher

U.S. Government Printing Office

Contributor

Molly Michelmore

Files

SS Taxes.gif

Citation

Molly Michelmore, “Social Security and Individual Income Taxes as a Percentage of GDP, 1936-2013,” The American Century, accessed August 19, 2017, http://americancentury.omeka.wlu.edu/items/show/30.