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    kirstiepaige31's Avatar
    kirstiepaige31 Posts: 23, Reputation: 1
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    #1

    Jul 10, 2012, 06:19 AM
    Tax revenue, government spending
    What are the primary tax revenue sources at the federal, state, and local levels of government? Identify the top 3 largest categories of federal government spending
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Jul 10, 2012, 06:28 AM
    Refer to this announcement

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    We won't do your homework questions for you.
    You were given the assignment for you to learn.

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    kirstiepaige31's Avatar
    kirstiepaige31 Posts: 23, Reputation: 1
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    #3

    Jul 10, 2012, 06:48 AM
    Actually that was the point.
    Most of Local governments revenue comes as transfers from the federal and state governments. The remainder came from local taxes, fees, and miscellaneous receipts.The primary source of tax revenue for state governments is the sales and excise tax.Many taxes are used by the federal government to pay for its operating expenses. These taxes include income taxes, social security taxes, unemployment taxes, and excise taxes.

    Medicare, Social Security, and National Defense would be the three largest government expenditure categories.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Jul 10, 2012, 07:00 AM
    Quote Originally Posted by kirstiepaige31 View Post
    Actually that was the point.
    Most of Local governments revenue comes as transfers from the federal and state governments. The remainder came from local taxes, fees, and miscellaneous receipts.The primary source of tax revenue for state governments is the sales and excise tax.Many taxes are used by the federal government to pay for its operating expenses. These taxes include income taxes, social security taxes, unemployment taxes, and excise taxes.

    Medicare, Social Security, and National Defense would be the three largest government expenditure categories.
    Actually, 43 states in the union has a state income tax, and THAT tax is the major source of revenue for the state.

    Most local taxes derived most of its income from property taxes on the real estate within its jurisdiction.
    kirstiepaige31's Avatar
    kirstiepaige31 Posts: 23, Reputation: 1
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    #5

    Jul 10, 2012, 07:06 AM
    Quote Originally Posted by AtlantaTaxExpert View Post
    Actually, 43 states in the union has a state income tax, and THAT tax is the major source of revenue for the state.

    Most local taxes derived most of its income from property taxes on the real estate within its jurisdiction.
    Thank you!
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