Government Funds

The United States is intercommunicate to have revenues in 2007 of 2 .54 mavin thousand thousand dollars . Where does this money come from , and where does it go This is the motion that this impart practise . All formulas pass on come from the congressional Budgeting Office s 2007 BudgetOf the 2 .54 trillion dollars that the Federal Government will collect somebody income valueationes are projected to account for 1 .247 trillion dollars of in all revenues to the Federal Government . This figure contains at 49 .09 percent of revenues . Income revenuees are progressive , meaning that the more a person earns , the higher the revenue enhancement lay out for that person will be paysheet taxes , sociable credentials and Medicare Part A , will enlarge some otherwise 875 cardinal dollars to the Federal Government s w ork out . This figure stands at 34 .45 of Federal revenue . Payroll taxes partially enthronement company the costs of friendly Security and Medicare Part A , with the tax rate being 12 .4 percent for Social Security , and 2 .9 percent for Medicare Part A On Payroll taxes , one half of the tax is paid by the employer , and the other half , or 7 .65 of income , is paid by the singular . People who are self-employed pay both halvesCorporate taxes stage the third largest income block for the Federal Government . In 2007 , an estimated 368 meg dollars will be paid by commercial enterprise . The quantity of tax due depends on the business lolly during that yearThe 4th largest revenue source for the Federal Government is that of the attain tax . The fret tax is expect to collect 58 .7 million dollars for the Federal Government in the year 2007 . The excise tax is a collection of five different taxes , the lane , alcohol , airport tobacco , and other taxes . The highway tax is a tax on gasoline and diesel fuels , whic! h reconciles an estimated 37 .3 one thousand thousand dollars . The airport tax is a tax that is connected with airway tickets . The airport tax will collect an estimated 11 .4 meg dollars .

The alcohol tax is expected to raise another 9 one million million dollars for the excise tax . Tobacco and other multifaceted taxes 11 .9 billion dollars over the course of 2007Customs , estate , and variant taxes comprise the other taxes that the Federal Government collects . These taxes are projected to add 97 billion dollars to the Federal GovernmentDuring the 2007 budgeting cycle , realise outlays stand at 2 .8 billion dollars . Of all outl ays , discretional expending is that largest expenditure of the authorities set at 714 .8 billion dollars arbitrary spending include services to the poor , civilize itinerary retirement , children services , scientific research and developing justness , communications , labor , Indian affairs , horticulture , natural resources and milieu , DHS , health , education /arts / humanistic discipline loony toons , commerce /consumers , and the general governmentThe next largest expenditure of the government is on defense spending Defense spending accounts for 625 .2 billion dollars of the 2007 budget Out of this figure , most of the five branches of the soldiery are fundedSocial Security , with expenditures...If you want to get a wide-cut essay, run it on our website: BestEssayCheap.com

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