Public Agenda: First Choice 2004

Test Your Knowledge: The Budget

1. Which tax makes up the largest source of revenue for the federal government?
Corporation income tax
Individual income tax
Social Security and Medicare taxes
Excise tax

2. What is the top federal individual income-tax rate?
31 percent
35 percent
36 percent
39 percent

3. What was the median Adjusted Gross Income (AGI) filed with the IRS in 2001?
$23,500
$28,100
$43,700
$59,600
4. What percentage of federal expenditures was spent on individual benefits in 2003?
13 percent
23 percent
43 percent
63 percent

5. How much did the average American donate to the U.S. government to help reduce the public debt during the 2003 fiscal year?
$1.3 million
$5.8 million
$7.6 million
$10.2 million

6. How much was the gross federal debt in 1791?
$9.1 million
$26.8 million
$75.4 million
$5.3 billion