1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
elena-14-01-66 [18.8K]
3 years ago
8

What is the source of most of the government's revenue? How does the government develop revenue bills,

History
1 answer:
ra1l [238]3 years ago
6 0

Explanation:

For a given country, you can find the actual breakdown of its government’s revenues in the Statement of Government Operations (p. 38, IMF). This is like the government’s income statement. Some governments might give it different names and some governments might be more transparent than others.

The other answers to this question give some really good examples that I would group into five broad categories of government revenues.

Taxes. This is usually the lions share of most governments revenue. All kinds of taxes here: household and corporate income taxes, capital gains taxes, sales taxes, property taxes, value-added taxes, customs duties, any fees charged as a proportion of costs associated with providing services, etc. These do not include social contributions.

Public services. Some goods and services provided by the public sector can also generate revenue. This can include licensing bandwidth to telecommunications companies, revenues from state-owned enterprises like national mining companies in commodity-rich countries or national banks, utilities, etc. These are not always profit maximizing services and there tend to be laws or designations around where any profits from these services go.

Grants and contributions. Some governments receive grants from other governments or international organizations. This can include a government of a developing country, or a local or regional government that receives transfers from the national government. Social contributions can include voluntary or mandatory social security contributions, which by some definitions differ from taxes in that they are entitlements payed to the beneficiaries under specific events (old age, sickness).

Interest and property income. The government owns assets such as land that can often generate income through rent, for example. Some governments can act as creditors and lend money directly through public or quasi-public agencies that charge interest (usually lower than market rates). Central Banks can also buy and sell some assets and send any profit to the Treasury/Finance Ministry.

Other revenues. One time sources of revenue can include fines and penalties, sale of public assets, or lotteries.

You might be interested in
United States led forces entered the Korean War after receiving authorization to do so from
Dovator [93]
I Believe it was president Harry S. Truman
8 0
3 years ago
Cocaine is an example of which of the following
Mrrafil [7]

Stimulants it also falls under a narcotic but its absolutely stimulants

3 0
3 years ago
Read 2 more answers
The constitution says the US or federal laws are the SUPREME LAW OF THE LAND.What does that mean? I need examples
ratelena [41]

Answer: federal laws rule over all other laws

Explanation:

say a law was passed in a state but was ruled to go against something in the constitution, that law would be abolished by the supreme court

hope this helps

7 0
3 years ago
Which statements about enslaved persons in the North Carolina colony are correct? Check all that apply.
Ivenika [448]

Answer:

I believe that it is c, b and a

5 0
3 years ago
In what ways did the industrial revolution improve the lives of workers?
elena-s [515]

The Industrial Revolution was a time of drastic change, for both the better and worse. Changes like factories, steam power, and more people flocking to the city generally improved life. However, these changes also meant that working conditions declined, and massive increases in pollution and disease.

7 0
4 years ago
Other questions:
  • What was "The Pledge of Allegiance" written for?​
    12·1 answer
  • Which of the following is true about what Jefferson believed?
    15·1 answer
  • Who was an english leader whose courage and wisdom saved jamestown from failure?
    11·1 answer
  • Why has the church given us the experience of these great gifts?
    15·2 answers
  • The Constitutional amendment that profited denying voting rights to people based on race or color is the?
    9·2 answers
  • Why were herbal remedies effective in the Middle Ages? How did they change the way we treat diseases today?
    10·2 answers
  • Why did Paul Revere create the Boston Masacre engraving?
    8·1 answer
  • Which depression era program gave 19000 Africans jobs
    11·1 answer
  • What is détente?
    9·2 answers
  • This enlightenment thinker is more likely to concern himself with how much money a country makes ​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!