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Tax day: Where the government gets its money

CBS News
Tax day: Where the government gets its money

With nearly 40 million Americans filing their taxes this week, many are likely wondering: How much does the government need my money, anyway? The answer: a lot.  The federal government took in $3.3 trillion in tax revenue last year. More than 80 percent -- $2.7 trillion -- came from individuals through either income tax or payroll taxes that fund Social Security and Medicare.  Corporate taxes kick in just 9 percent of the government's revenue. After the recent tax cuts, the share from Corporate America will go down even more. The Office of Management and Budget projects corporate income taxes will drop to just 5 percent of government revenue in five years.  Estate taxes make up even less. Last