The gap between US federal spending and tax revenue is currently bigger, as a share of gross domestic product, than it’s ever been outside of major war or other crisis. Is that because spending ...

The University of Pennsylvania’s Penn Wharton Budget Model makes that easy to do, cleaning up and analyzing raw data the ...

Current US Tax System As of 2024, the US tax system operates under a progressive model with seven federal income tax brackets, ranging from 10% to 37%. The tax rates apply to taxable income ...