Revenue (government)
Revenue is the money that a government collects from taxes, fees, fines, and other sources. It is used to fund public services, such as education, healthcare, and infrastructure. Governments use revenue to pay for the services they provide to citizens, as well as to pay for the costs of running the government itself. Revenue is an important part of a government’s budget, and it is closely monitored by the government and its citizens.
History of Revenue
The concept of revenue has been around since ancient times. In the Roman Empire, taxes were used to fund public works and military campaigns. In the Middle Ages, taxes were used to fund the building of castles and cathedrals. In the modern era, governments have become increasingly reliant on revenue to fund public services and infrastructure. In the United States, the federal government collects revenue from income taxes, corporate taxes, and other sources. State and local governments also collect revenue from taxes, fees, and other sources.
Comparison of Revenue Sources
| Revenue Source | Federal | State | Local |
|---|---|---|---|
| Income Tax | 50% | 25% | 25% |
| Corporate Tax | 30% | 20% | 10% |
| Sales Tax | 0% | 30% | 40% |
Summary
Revenue is the money that a government collects from taxes, fees, fines, and other sources. It is used to fund public services, such as education, healthcare, and infrastructure. Governments use revenue to pay for the services they provide to citizens, as well as to pay for the costs of running the government itself. Revenue is an important part of a government’s budget, and it is closely monitored by the government and its citizens. For more information about revenue, visit the websites of the Internal Revenue Service, the U.S. Department of the Treasury, and the Government Accountability Office.
See Also
- Taxation
- Budget
- Public Expenditure
- Deficit
- Debt
- Fiscal Policy
- Monetary Policy
- Government Spending
- Public Finance
- Government Revenue
