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1 Alan Cole, Sources of Personal Income 1 (2015)

handle is hein.taxfoundation/sopersinc0001 and id is 1 raw text is: 



Jan. 2015
No. 449

Sources of Personal Income

By  Alan   Cole

Key  Findings

   Taxpayers reported $9.2 trillion of total income on their 2012 tax returns, a
   substantial increase from the previous year's $8.4 trillion.

   68 percent ($6.3 trillion) of total income reported on individual income tax
   returns is in wages and salaries, and about 83% of all tax filers report wage

   In order to substantially increase revenues, policymakers generally have
   to look to labor compensation as the main tax base, simply because of its
   sheer scale.

   Pensions and retirement accounts make up a substantial portion of capital
   income, but are frequently forgotten in analysis of income data. The
   middle-class, in fact, has a colossal equity stake in American capital through
   such accounts.

   Business income is also a large feature of the individual tax code. Some
   businesses, like S-corporations, sole proprietorships, or partnerships, file
   their taxes through the individual tax code.

   Capital gains and dividends accounted for about $883 billion in income in
   2012, which is roughly equal to income from business ($839 billion) and
   retirement accounts ($843 billion).

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