Econ essay 3.docx - Nic Pulcini Econ Essay 3 It is primarily from taxes that the state gets the money this invests The comparative amounts of the

Econ essay 3.docx - Nic Pulcini Econ Essay 3 It is...

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Nic Pulcini Econ Essay 3 It is primarily from taxes that the state gets the money this invests. The comparative amounts of the federal government origins of taxation are shown in Figure 1. 45% of federal tax revenue comes from personal income taxes on people. A further 39 million come from retirements from Social Security and Medicare. When half of the social security and medicare taxes are directly paid from people, nearly 65% of taxes collected by the federal government derive from persons. 32% of taxes come from businesses to the state. Source of significant discussion, estate and gift taxes account for just 1% of federal tax revenues. The government does not raise money only by taxation. The U.S. was on a gold standard before 1933. The nation had limited the amount of gold it could print to the government's amount of dollars. That mattered the gold standard was not cash, but the cap on the government's number of dollars. The same result would have been
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