Maryam Eshaq by MARYAM ESHAQ https://padlet.com/331413/pj8gofbmmssy Made with the strength to succeed en-us 2019-12-06 19:05:24 UTC 2019-12-16 20:24:54 UTC hello@padlet.com 331413 https://padlet.com/331413/pj8gofbmmssy/wish/420983938
  • Taxes and property taxes are the main source of revenue for state governments, however, were taxes on sales and gross receipt.
  • Total revenue
  • Corporate income tax
  • Income security
  • A proportional tax is one that imposes the same relative burden on all taxpayers. 
  • The largest source of revenue is 1st individual income taxes, 2nd payroll taxes.
  • States spend more than local governments on public welfare programs. In 2016, 42 percent of states’ direct general expenditures went toward public welfare
  • States also spent more directly than local governments on higher education: that category comprised 18 percent of state direct expenditures versus only 3 percent of local direct expenditures in 2016.



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    • The federal government collects taxes on the wages and salaries earned by individuals, income from investments (e.g., rent, interest, dividends, and capital gains), and other income. The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
    • Total revenues
    • Individual Income Tax
    • Corporate Income Tax
    • Federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. 
    • The smallest source of revenue is the excise taxes.
    • The spending categories of the federal government are;  deficits that add to the federal debt 
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    • State government revenue comes from income, sales, and other taxes; charges and fees; and transfers from the federal government. Taxes account for about half of all general revenue.
    • Federal Excise Taxes
    • Expenditures
    • National Defense
    • Income security
    •  A progressive tax is characterized by a more than proportional rise in the tax liability relative to the increase in income.
    • 3rd corporate income tax, 4th excise tax, and 5th other.
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