We all pay taxes. There are four taxation entities – Individuals in the US, Corporations in the US, Import Tariffs on Goods coming into the US and Foreign Entities like expats. The question we want to answer is, what is the share of federal taxes for the taxation entities & has it changed over time ? Can we forecast this into the future ?
There are four entities for the purposes of federal taxation:
Individuals:
Working people who pay the largest share of federal taxes. Note that this does not include social security taxes.
Corporations:
US based business entities. These typically pay the second largest share of federal taxes.
Import Tarriffs:
Duties on goods coming into the US.
Foreign Entities
Businesses or expats who earn outside the US but are still subject to federal tax law. These have the smallest share.