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primarily by the fact that a greater share of revenue comes from taxes on
production and imports and substantially less is spent on defense.
Figure 15.2 Government Revenue Sources and Expenditures: 2007

The four panels show the sources of government revenues and the
shares of expenditures on various activities for all levels of government
in the United States and the European Union in 2007.
Sources: Survey of Current Business, July 2008, Tables 3.2 and 3.10.5;
Paternoster, Anne, Wozowczyk, Monika, and Lupi,
Alessandro, Statistics in Focus—Economy and Finance, Eurostat
23/2008. For EU revenues, “Taxes on production and imports” refers
mainly to value-added tax, import and excise duties, taxes on financial
and capital transactions, on land and buildings, on payroll, and other
taxes on production. In the category “Current taxes on income, wealth,
etc.” are taxes on income and on holding gains of households and
corporations, current taxes on capital, taxes on international
transactions, and payments for licenses. Capital taxes refer to taxes
levied at irregular and infrequent intervals on the value of assets, or
net worth owned, or transferred in the form of legacies or gifts. Social
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org

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