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Since most government spending is funded by income tax (or by loans which are expected to be repaid eventually through income tax) the government uses income tax for pretty much everything the government does; in addition, we could observe that since this is a progressive tax (people with more income pay more tax) this is a form of redistribution of wealth (although of course, there are many tax loopholes so the scheme usually does not work exactly as advertised).
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∙ 14y ago
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What things dose the government collect income taxes?
Why dose the government collect income taxes
The government should eliminate state income taxes.?
The government should eliminate state income taxes.
What happens to a net personal income with the government lowers taxes?
If the government lowers your taxes your NET income increases.
What is the federal government's source of income?
Individual income taxes is the federal government's largest source of funds.
What are the source of income for the government?
Mostly Income Taxes.
What is the difference between income taxes and state taxes?
Income taxes are taxes paid based on the amount of your wages and other forms of income, including but not limited to investment income, pensions, interest and dividend income, business income, rental income, etc. Income taxes are assessed by and paid to the federal government and, depending on where you live, also state and local governments. State taxes can come in many forms, including not only income taxes, but also property taxes, sales taxes, use taxes, excise taxes, business taxes, etc.
The government creates income from which of these?
taxes
Highest income of government is by?
Taxes
The new government's chief source of income was to be?
The Constitution only allows for the Federal governments income to be from duties and imposts. The government also relies on income taxes, sales taxes and corporate taxes.
Where do state governments get income?
It depends on the state.Individual and business income taxes, sales taxes, use taxes, property taxes, excise taxes, fuel taxes, road taxes, professional licensing fees, entertainment taxes, casino taxes -- the possibilities are nearly endless.Let us not forget the taxes we pay to the federal government that the federal government pays to the state governments so they'll do what the federal government wants them to do.
What is the income received by the government from taxes called?
The income recieved by a government from taxes abd other nontax sources is called Revenue.
What is income of the government?
Individual income taxes is the federal government's largest source of funds.
