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The government collects taxes in order to pay for all it's expenditures during the year. It uses the revenue collects to pay for our military and defense costs, and a great deal of tax revenue goes to wealth redistribution. This is where they take money from those who they tax and give it to others who pay no taxes. It is also used to try to buy friends by giving money to other nations around the globe in hopes they will become a friend of the U.S. There are so many different ways the U.S. Government spends you tax money that there is not enough space on this website to list all of them. Money goes to research on anything you can think of, arts grants, farm grants, new forms of energy grants, public parks, projects around the world, United Nations projects, etc.
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Largest source of revenue for the federal government?
The largest source of revenue for the federal government has been individual income taxes and payroll taxes. These taxes account for 82% of all federal government income.
Where does the government obtain its income?
mainly taxes
What are the main sources of state revenue?
sales taxesindividual income taxescorporate income taxes
List and describe four sources of state government revenue?
US State sources of income can be the following four types: 1. State income taxes; 2. Income from sales taxes; 3. Income from real estate taxes; and 4. Inheritance taxes.
Do you have to pay taxes on CDs?
Yes, you generally have to pay taxes on the interest earned from CDs as it is considered taxable income by the government.
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 is the federal government's source of income?
Individual income taxes is the federal government's largest source of funds.
What happens to a net personal income with the government lowers taxes?
If the government lowers your taxes your NET income increases.
What are the source of income for the government?
Mostly Income Taxes.
Do you have to pay taxes on your income?
Yes, individuals are required to pay taxes on their income to the government.
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.
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.
Largest source of revenue for the federal government?
The largest source of revenue for the federal government has been individual income taxes and payroll taxes. These taxes account for 82% of all federal government income.
