Thursday, May 17, 2007

Taxes - How does the governement get money?

When it comes to taxes, the government is the most that benefits from them the most. The different types of taxes that Americans pay are Federal taxes, Real Estate and state taxes as well as all the taxes you pay when you purchase any item except clothing which is now tax free in the state of New York only if the item is under 100 dollars. The federal government gets money by the taxes that are taken away from each employed person and is given to the government to fund for things such as the war and other expenses that the country has. The state also gets money from deductions from the nations employment and is funded for necesities in that particular state. Local city governments get their money by smaller businesses and money gained from clothing, food, electronics etc.

Overall, the country gets money basically from it's people by deducting a certain portion of the nation's paychecks depending on their salary and is used for the nations neccessities most of the time.

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