How much do you think businesses and individuals in the U.S. pay in taxes as a percentage of GDP?

1. 10% and 5%
2. 7% and 10%
3. 1% and 7%

Answer:

U.S. government revenue from federal corporate taxes accounted for 1.1% of the country's GDP in the first quarter of 2021, while federal taxes paid by individuals accounted for 7.5%.