There are several important sources of personal income such as wages, salaries, transfer payments, personal interest, and proprietors' income. Specifically, in the United States, the second largest source of personal income is earned through
Social insurances and the retirement benefits and the funds that are associated with social security and the medicare that slowly increase with the time. Apart from the incomes such as the salaries and the transfer of payment and the personal interest and the sole property ship the U.S federal tax is one of the second largest sources that have the highest revenue generation.
