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McDonalds and drug dealers.

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12y ago

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Continue Learning about American Government

What is the main income of America?

The main income of America is dead solders sent back home from overseas.


What is the income tax rate average in America?

There is no average income tax rate in America; income tax rates are determined by how much you earn. For example, if your taxable income is below $8500, then you will only need to pay 10%, while if you earn above $38000, then you will need to pay 35%.


What are the major sources of income for the federal budget?

The major sources of income for the federal budget include individual income taxes, which make up the largest portion, followed by payroll taxes that fund Social Security and Medicare. Corporate income taxes contribute a smaller share, while other sources include excise taxes, estate taxes, and various fees and charges. Additionally, the federal government may generate revenue through investments and loans. Overall, these revenue streams finance government operations, programs, and services.


What was the average income in America in 1875?

In 1875, the average income in America was approximately $1,200 per year. This figure varied significantly based on occupation, region, and gender, with many laborers earning much less. The economy during this period was characterized by industrial growth, but also by stark income disparities. Adjusted for inflation, this income level would be equivalent to several tens of thousands of dollars today.


What portion of total income earned by Americans is unearned income?

Unearned income, which includes sources such as dividends, interest, rents, and capital gains, constitutes a significant portion of total income earned by Americans. As of recent estimates, unearned income accounts for approximately 20-30% of total income for households, with higher percentages observed among wealthier individuals. This proportion can vary based on economic conditions and changes in the investment landscape. Overall, unearned income plays an important role in the overall income distribution in the U.S. economy.