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Why is income tax important for the government?
income tax is one of the most important source of government revenue. in us around 31% and UK around 29% of government revenue comes from income tax . this is the biggest source of governments revenue. this is only one of many imporatnce.
How will a manufacturer in the US most benefit from Americas free trade agreements with other countries?
There are many many examples of how free trade has benefited the US over the course of the country's history. The US currently has 14 different trade agreements with 20 countries. The most prominent of these is with Australia. The trade agreement between both countries stimulated a 104% increase in the trade surplus of the United States, with a total of $26.1 billion in products being exported by the US. The reason that free trading like this stimulates so much revenue is because of supply and demand, which is the idea of the capitalist market. Opening free trading with other countries gives companies a much larger opportunity for companies to find demand for their product. A larger demand means that a company can produce a larger supply and expand, which generates more revenue for the company. Good question! Hope I helped!
What factor of production accounts for the highest percentage of the income that the production process generates in the US?
capital
What is the fastest growing source of federal revenue for the US?
The Payroll Tax
Who can initiate bills for raising revenue?
Article 1, section 7 of US Constitution states that bill for raising revenue are initiated by the House of Representatives
What type of taxes generates the most revenue for the US government?
Sales tax
What type of tax generates the most revenue for the US government?
Sales tax
Where does most government revenue come from?
Most government revenue comes from us
Where does governments' revenue come from?
Most government revenue comes from us
Which form of ownership generates most sales in the US?
corporation
How is most of the electricity in the US generates?
By coal fired generators.
What country uses the most geothermal power?
The US generates the most geothermal energy in the world.
What did the US sell to fund the war?
The major revenue of US comes from their weapon business. They are the largest weapon seller in the world.
Which country generates the most electricity with nuclear power?
The US generates most, with 104 power reactors, but France has the largest percentage at around 80 percent of total electricity
What is the US government's largest source of revenue?
Taxes on business gross profits, and on personal gross earnings.
Where does most of the state revenue comes from?
Revenue of states comes from income taxes from people and businesses in their area. It also comes from materials that are being exported to other states where they generate an amount of revenue as well.
What us-Treasury bureau assesses and collects taxes on business and personal income?
The IRS (Internal Revenue Service) assesses and collects taxes on business and personal income.
